Taean Wind Powers plans to start construction in 2026.
“Reaching this milestone emphasizes our dedication to delivering clean, sustainable energy to our local communities,” said Kwanglin Cheong, Taean Wind Power’s representative director.
“We extend our gratitude to our stakeholders and partners, including the government, Taean County, our supply chain collaborators, residents, and fisheries for their invaluable support. Together, we are focused on ensuring the success of this project, fostering local engagement, and contributing meaningfully to Korea’s energy transition, engineering a greener future for generations.”
“Taean represents an attractive opportunity to increase our offshore wind footprint in Korea,” said Thomas Wibe Poulsen, CIP partner. “We look forward to completing this exciting project together with our new partners at Vena Energy who, with a strong track record of developing green energy solutions across the APAC region, is a great match for us. The participation in the Taean project will further strengthen and diversify CI V’s investment portfolio and support our ambition of securing attractive risk-adjusted returns for our investors.”
The Taean project is designed to deliver economic and environmental benefits, revitalizing the local economy, creating job opportunities, and enhancing the resilience of the local supply chain. Collaborating with key stakeholders, including LS Cable & System, a leader in cable technology from Korea, as the preferred cable supplier, Taean Wind Power unites industry leaders in offshore wind development, supply, construction, and operations. This collective expertise establishes a foundation to generate enough clean energy to power around 300,000 Korean households annually.
Vena Energy’s technical capabilities are at the forefront of renewable energy innovation in the Asia-Pacific region.
“Taean Wind Power represents a significant step forward in advancing Korea’s energy independence and decarbonization goals, and we are proud to partner with CIP to bring this project to life,” said Simone Grasso, Vena Energy chief investment officer. “By combining our respective capabilities and expertise, we are paving the way for the successful delivery of this landmark project, contributing to Korea’s green energy transition. We look forward to collaborating with all stakeholders to position Korea as a global leader in the offshore wind sector and to deliver meaningful and lasting economic benefits for the country.”
