Woori Investment & Securities has begun in earnest to provide productive financing by supporting the securing of installation and transport vessels for substructures, the core infrastructure of domestic offshore wind power plants.
On the 27th, Woori Investment & Securities said it successfully completed arranging financing for the acquisition project of the offshore wind installation vessel "Nuri Baram," promoted by KOSDAQ-listed Woori Technology and offshore wind specialist CGO. The total size is 50.2 billion won.
Nuri Baram is slated to be deployed to major domestic offshore wind projects, starting with the Shinan-Ui offshore wind farm project, selected as the first project of the Public Growth Fund.
The Shinan-Ui offshore wind farm project is to build and operate a large-scale offshore wind power plant with a generation capacity of 390MW in the waters south of Ui Island, Shinan County, South Jeolla Province. It is also the first large-scale offshore wind project to be pursued with purely domestic capital to expand the essential power infrastructure for local advanced strategic industries.
The company said the deal is meaningful in that it is Woori Investment & Securities' first case of arranging venture capital financing. Participating as the sole lead manager, Woori Investment & Securities designed the financing structure, formed the lender group and secured stable funding.
A Woori Investment & Securities official said, "This Nuri Baram financing mandate is the first outcome that marks Woori Investment & Securities' full-fledged role as a 'venture capital supplier,'" adding, "We will continue to expand investment in advanced strategic industries to accelerate the transition to productive finance and establish ourselves as a key player in the venture capital investment market that injects vitality into the real economy."