Fund manager Copenhagen Infrastructure Partners (CIP) said June 21 it has invested $350 million in gigawatt-scale fixed-bottom and floating wind projects offshore South Korea.

CIP’s offshore wind partner Copenhagen Offshore Partners will develop the projects in the Jeonnam Province, pushing the country toward its offshore wind target of 14.3 GW by 2030.

Funds will go toward the 99-megawatt, fixed-bottom Jeonnam 1, a joint venture between SK E&S and CIP being developed in the Yellow Sea, as well as other projects in Shinan County, Yeonggwang County and the Ulsan region.

“By materializing our GW-scale project we hope to create momentum in the Korean offshore wind market,” COP Korea Co-CEO David Taesung Yoo said in the release.

CIP, which entered the Korean wind market in 2018, also said its energy transition fund is looking to develop its Power-to-X business and expand its concept of “energy island” to Korea. The concept, being carried out by CIP offshore Denmark, involves using high-voltage direct current technology to bundle energy from offshore windfarms and transport electricity onshore.

Offshore