The 1.4 GW Incheon offshore wind project being developed by Ørsted is located about 70 km off the coast of Incheon, South Korea. Ørsted has recently signed MoUs with Korea South‑East Power (KOEN) and steelmaker POSCO. The wind farm’s geotechnical investigations conducted by Fugro UST21 were also completed in August 2025. This provided the needed seabed data to inform foundation design and cable routing. Incheon offshore wind project capacity was also revised down from its original 1.6 GW granted in November 2023 to 1.4 GW in March 2025, following stakeholder consultations. The country also recently launched a competitive onshore wind tender closing by end-year 2025.
Ørsted’s 1.4GW Incheon Offshore Wind Project, South Korea’s Largest, Gets a New Partner
Reported September 26, 2025 – POSCO Group has signed a memorandum of understanding (MOU) with global offshore wind developer Ørsted to co-develop the 1.4-gigawatt Incheon Offshore Wind Project. The project is also among the largest offshore wind undertakings in South Korea to date. This is among the ranks of the 1,125 MW Hanbando fixed-bottom offshore wind farm also being developed in South Korea.
Broad-Scope Collaboration on Infrastructure and Supply Chain
Under the agreement, POSCO will explore collaboration across multiple aspects of the project, including:
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Supplying high-strength steel for substructures and towers
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Construction of onshore facilities
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Engineering, Procurement, Construction, and Installation (EPCI)
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Operations and maintenance (O&M)
A joint working group will also be established to detail cooperation plans for the Incheon project.
POSCO’s Contribution to Korea’s Offshore Wind Industry
POSCO Holdings President Lee Ju-tae also stated that the group intends to leverage its extensive offshore wind supply chain expertise to enhance Korea’s industrial competitiveness. They also seek to accelerate renewable energy deployment.
Ørsted’s Progress on Project Approvals
Ørsted secured the business license for the Incheon Offshore Wind Project in 2023. It is currently conducting environmental impact assessments and designing the wind farm. In addition to the MOU with POSCO, Ørsted recently signed another MOU with Korea South-East Power for joint project development.
Project Scale and Location
Located approximately 70 kilometers off Korea’s west coast, the Incheon project will consist of two wind farms – one with an 800 MW capacity and another with 600 MW – totaling 1.4 GW once operational. It is also set to become the nation’s largest offshore wind farm.
Ørsted and POSCO’s Incheon Offshore Wind Project Factsheet
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Capacity: 1.4 GW from two wind farms at 800 MW and 600 MW
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Location: 70 km off the coast of Incheon, South Korea
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Developer: Ørsted
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New Partner: POSCO Group (steel supply, construction, EPCI, O&M)
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Licensing: Business license obtained in 2023
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Current Status: Environmental assessments and design phase
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Significance: One of the largest offshore wind projects in South Korea
