POSCO E&C has commenced a $2.97 billion offshore wind power project off the coast of Gochang, Jeollabuk-do, to meet the renewable energy demands of advanced industries such as semiconductors and data centers in the southwestern region.
The company announced on November 12 that it has signed a construction contract for the 76.2 MW Gochang Offshore Wind Project and has begun construction this month.
The project will involve a total investment of 2.97 trillion won, with a target completion and commercial operation date set for August 2029. POSCO E&C will manage the entire process from design to procurement and construction using an engineering, procurement, and construction (EPC) approach.
Once completed, the Gochang offshore wind farm is expected to generate approximately 146 GWh of electricity annually, enough to power about 35,000 households for a year.
The project is also anticipated to contribute to greenhouse gas reduction. POSCO E&C estimates that it could reduce around 61,000 tons of greenhouse gases annually by replacing fossil fuels such as coal and gas. During the construction period, it is expected to create approximately 11,800 jobs.
This initiative is linked to enhancing the competitiveness of advanced industries in the southwestern region, including Jeollabuk-do and Jeollanam-do. As the demand for electricity increases from industrial facilities like semiconductor clusters and data centers, securing a renewable energy supply has become increasingly important.
With global companies pushing for greater use of renewable energy, offshore wind facilities are expected to play a crucial role in expanding the renewable energy supply for local industrial complexes.
To enhance the durability and construction safety of offshore structures, POSCO E&C plans to combine POSCO Group's steel material technology with its experience in offshore construction.
The project will utilize POSCO's special steel, which has high corrosion resistance to seawater, and apply technologies accumulated from large-scale offshore projects such as the Incheon Cheongna Sky Bridge and port construction in Vietnam.
In July, POSCO Group outlined its growth strategy in the energy resources sector, emphasizing its entry into offshore wind projects. This initiative is expected to serve as a stepping stone for expanding the group's EPC capabilities in offshore wind power.
A POSCO E&C official stated, "The Gochang Offshore Wind Project is significant not only for supplying renewable energy to local advanced industrial complexes but also for fostering the growth of domestic offshore wind technology and supply chains. We aim to lead the large offshore wind market and contribute to the country's energy transition with this project."
* This article has been translated by AI.
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