Vena Energy and KOMIPO ink agreement for Yokji Island project

4C Offshore | Tom Russell
By: 12/05/2022 Vena Energy
Vena Energy has signed a Joint Development Agreement (JDA) with Korea Midland Power Co., Ltd. (KOMIPO) for the development of an offshore wind project near Yokji Island, under the jurisdiction of Tonyeong City.

Under the terms of the agreement, Vena Energy and KOMIPO will collaborate on the development, operation, and maintenance of the offshore wind project, while also establishing a model of cooperation that will help support the local community.

Located off the western coast of Yokji Island, the offshore wind project is expected to have a capacity of 384 MW and will be capable of powering up to 184,000 Korean households annually.

“With this partnership, Vena Energy and KOMIPO established a strong foundation to accelerate the energy transition in South Korea,”
said Kwangjin Cheong, the Head of Vena Energy Korea. “Powered by KOMIPO’s experience, expertise, and ambition, we look forward to delivering this project to the people of Yokji Island and contributing to South Korea’s energy independence and carbon neutrality goals.”