Global offshore wind developer Deep Wind Offshore has signed a partnership agreement with Korea Hydro and Nuclear Power (KHNP), the largest power producer in South Korea.
Deep Wind Offshore has been developing offshore wind projects around the Korean peninsula for the past four years. So far, this has resulted in 3 GW under exclusive development. Now, the Norway originated offshore wind developer has solely signed a partnership agreement with KHNP. The partnership will jointly develop the Admiral Lee and Abalone projects, to contribute to Korea’s offshore wind power expansion policy.
The signing ceremony took place in Oslo, accompanied by the Ambassador of the Republic of Korea to Norway Mrs. Seo Min-Jeong and Mr. Jo Sletbak from the Norwegian Ministry of Foreign Affairs. KHNP were represented by its President Mr. Joo Ho Hwang and Executive Vice President Mr. Kim Hyung-Il meeting Deep Wind Offshore’s CEO Knut Vassbotn, CCO Hans Petter Øvrevik, and Country Manager Myoung Won Kang.
“KHNP is evolving beyond its traditional role as a leader in nuclear and hydro power generation to become a driving force in the transition to eco-friendly energy through the development of renewable sources such as offshore wind. Our strategic partnership with Deep Wind Offshore marks a pivotal milestone in strengthening Korea’s global competitiveness in offshore wind. Through this collaboration, we will actively contribute to the expansion of clean energy, while also leading efforts in localization of key technologies and delivering value to local communities”, said Kang Young-chul, Director of Renewable Energy Division, Korea Hydro & Nuclear Power (KHNP), who also attended the signing ceremony.
“With an impressive track-record and a unique local position, KHNP is the perfect partner for Deep Wind Offshore in Korea. Together with our experienced team, this collaboration will provide a solid foundation for maturing projects through upcoming milestones. Combined, we will contribute to Korea’s front-running position in offshore wind”, CEO Knut Vassbotn of Deep Wind Offshore said.
Deep Wind Offshore continue to follow the industrial traditions of owner Knutsen Group, who has been present in the South Korean market for the last decades. With an extensive new building program, Knutsen Group is one of the biggest clients to Korean yards. Last week, the parties attended the naming ceremony for Knutsen’s two brand new LNG vessels at the Hyundai Samho Heavy Industries yard in Mokpo.
Hanne Steensnæs, Communications and Public Affairs Director - Global
hanne.steensnaes@deepwindoffshore.com
Deep Wind Offshore is an international developer and owner of offshore wind projects, headquartered in Norway and with presence in South Korea, Estonia, Sweden, and Chile. Backed by strong industrial and financial owners in Knutsen Group, Octopus Energy, Haugaland Kraft, and Sunnhordland Kraftlag, the Company develops a pipeline of more than 10 GW, including 4 GW under exclusive development.
Korea Hydro & Nuclear Power (KHNP) is Korea’s largest power generation company, producing approximately 30% of the nation's electricity through a diversified energy mix that includes nuclear, hydro, and solar power. In line with the government’s carbon neutrality and energy transition policies, KHNP is expanding its business into renewable energy sectors such as offshore wind. The company is accelerating the development of potential offshore wind sites along the east and southwest coasts of Korea, while strengthening its presence in domestic and international renewable energy markets through collaboration with global private-sector partners.
