Corio Generation Korea representative director Woojin Choi, TotalEnergies Korea country chair Jungwon Shin, SK ecoplant CEO Kyung-il Park and SK ecoplant Eco Energy Business Unit managing director Wangjae Lee. Credit: Corio Generation.

Energy companies TotalEnergies and Corio Generation have partnered with South Korean engineering firm SK ecoplant to develop the BadaEnergy offshore wind portfolio in South Korea.

Located offshore from Ulsan and South Jeolla province, the BadaEnergy portfolio features floating and fixed-bottom offshore wind farms with more than 2GW of combined capacity.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

It includes Gray Whale, a 1.5GW floating offshore wind farm that is expected to become one of the world’s largest floating offshore facilities once completed.

Corio Generation Korea representative director Woojin Choi said: “SK Ecoplant‘s broad experience and excellent capabilities in offshore development will serve as a great driving force for constructing offshore wind in South Korea, including one of the world’s largest floating offshore wind developments.

“In order to support the country’s ambition to lead the way in offshore wind, we will have a dedicated focus on the localisation of capital, finance, and technology.”

Using its offshore engineering, procurement and construction (EPC) knowledge, SK ecoplant will help its partners develop the projects through the planning, licensing, construction and operation phases.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In addition, the company will acquire a stake in the BadaEnergy portfolio subject to government approval.

To date, four of the portfolio’s five wind farm projects have secured electric business licenses (EBLs) from the Ministry of Trade, Industry and Energy’s Electricity Regulatory Commission.

Most of the projects have secured exclusive development rights and the partners have set the first commercial operation date for 2027.

SK ecoplant CEO Kyung-il Park said: “By jointly developing the offshore wind business with global energy companies, we have laid the foundation to become a major player in the market.

“We have completed the overall value chain of the energy business by achieving rapid growth through intensive investments in the renewable energy sector such as offshore wind, solar, and fuel cells.”