Hana Bank said on the 27th that it signed a business agreement on the 26th with Korea South-East Power (KOEN) to push ahead with the "Wando Geumil offshore wind power project," which will build a 600MW (megawatt) offshore wind farm off Geumil-eup, Wando-gun, South Jeolla Province.
The agreement was prepared to fully launch the construction of eco-friendly energy infrastructure aimed at strengthening the nation's leadership in energy. Through this, the two sides agreed to jointly seek cooperation plans across all stages—from development and construction to operation—by thoroughly reviewing the project structure and risk factors from before the project financing (PF) stage.
The Wando Geumil offshore wind power project is the largest eco-friendly energy project in Korea, with major licensing procedures well underway, and it is assessed to be ready to break ground within the year. Power generated by the wind farm is slated to be used for electricity infrastructure for advanced strategic industries in the Honam region, including national AI data centers, and is expected to contribute to revitalizing the local economy.
Hana Bank plans to further strengthen the stability of the funding structure and the completeness of the project by comprehensively analyzing the roles that a private financial institution can play and the potential for investment participation to produce tangible results in offshore wind power projects, a key pillar of the nation's energy transition policy. Going beyond simple funding, it will lead a productive finance model that actively participates in the entire process—from feasibility review to structural design to financial arrangement.
Hana Bank and Korea South-East Power (KOEN) agreed to build a mid- to long-term, mutually beneficial partnership across renewable energy and eco-friendly infrastructure projects starting with the Wando Geumil offshore wind power project, and to continue ongoing collaboration.