Ørsted has signed an MoU with Incheon Metropolitan City, Korea, to cooperate on developing a regional offshore wind industry.
Through this collaboration, Incheon City will provide administrative support, including increasing local awareness and establishing policies and infrastructure for Ørsted’s planned 1.6 GW project off the city’s coast.
“Ørsted will work closely with the City of Incheon to launch a new offshore wind industry and boost local economic development in the region,” says Ørsted’s Thomas Thune Andersen.
“We have a strong track record working with Korean suppliers in our global portfolio over the past decade. We’ll build on this legacy of collaboration with our Incheon project, which will lead the way for a thriving offshore wind industry by generating reliable renewable energy, attracting long-term investments and creating jobs.”
Subject to the successful outcome of these processes and Ørsted taking final investment decision, the project is expected to be completed in the early 2030s.
