DL Energy and Korea Midland Power (KOMIPO) said on the 2nd that the 160㎿ "Yeosu Geumo-do offshore wind power project," which is being promoted in waters near Geumo-do in Yeosu, South Jeolla Province, was selected as the final winner in a competitive bid.
The project, under the "Wind power fixed-price contract competitive bidding for the first half of 2026," will be carried out by a special purpose company (SPC) jointly established by the two companies. With a goal of a final investment decision in Dec. 2027, they are in talks with engineering, procurement and construction (EPC) firms and project financing (PF) lenders. They aim to begin commercial operation in 2030.
A DL Energy official said, "With this selection for the fixed-price contract, the biggest uncertainty of the project, the price risk, has been resolved," and added, "We will accelerate the full-scale EPC tender and financing procedures, and, based on close cooperation with Korea Midland Power (KOMIPO), contribute to building the offshore wind industry ecosystem in the Yeosu area."