South Korean website, Farm, concludes Power Purchase Contracts for a 500 MW project
The Taean Wind Farm, a joint venture between Copenhagen Infrastructure Partners (CIP) and Vena Energy, has secured long-term power offtake through Power Purchase Agreements (PPAs) for a 500 MW project in South Korea. The project, which is yet to reveal its exact location, was awarded an offtake contract in the 2024 wind power fixed-price contract auction arranged by the Korea Energy Agency (KEA). CIP acquired a 49% stake in Taean Wind Power through its flagship fund Copenhagen Infrastructure V in late 2024. Construction of the Taean wind farm is scheduled to begin in the fourth quarter of 2026. The exact identities of the partners involved in the PPAs are not specified, but it is known that Korea West Power will be responsible for 300 MW of the project, and Gangneung Eco Power for 200 MW. The PPAs lay a solid foundation for stable and sustainable energy supply, according to the project's latest social media post. The Taean wind farm project, developed jointly by CIP and Vena Energy, will contribute significantly to South Korea's renewable energy targets. The completion and start of commercial operations for the Taean wind farm are expected in the fourth quarter of 2029. The project's success underscores the growing interest in renewable energy investments in South Korea and the global commitment to a greener future.
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