Pacifico Energy to Invest Over $1 Billion in Offshore Wind to Power Korea’s Future
Pacifico Energy, a leading global energy infrastructure developer, has submitted an investment declaration worth over $1 billion to South Korea’s Ministry of Trade, Industry and Resources (MOTIR) for the Manho Offshore Wind Project (990 MW) and Jindo Baram Offshore Wind Project (1.8 GW) at the “U.S. Investment Ceremony,” hosted by MOTIR and the Korea Trade-Investment Promotion Agency (KOTRA). The investment marks a strategic step for Pacifico Energy to strengthen its position in supplying clean energy for Korea’s advanced industries.
The ceremony, held on Sept. 3 at the Willard InterContinental Hotel in Washington, D.C., marked the company’s second such declaration, following its 2024 investment declaration for the Myeong Ryang Offshore Wind Project (420 MW) and the development of the regional supply chain. Notable attendees included Kim Jung-Kwan, Minister of MOTIR; Seung-Ho Choe, Global Head of Offshore Wind and Representative Director of Pacifico Energy Korea. The declared investment will be fully allocated to the Manho Offshore Wind and Jindo Baram Offshore Wind projects.
Globally, securing “critical power” has become one of the key factors determining the competitiveness of advanced industries such as semiconductors, AI data centers, and cloud computing. In Korea, the Jeonnam-Gwangju region is emerging as home to the “Honam Semiconductor Cluster” and a growing base of advanced industries, all of which will depend on a stable, large-scale supply of clean energy. Offshore wind is well positioned to meet that need. Pacifico Energy Korea, the Korea-based development platform of Pacifico Energy, is developing a 3.2 GW offshore wind project cluster off the coast of Jindo County, one of the largest offshore wind clusters of its kind in the Asia-Pacific region* (*based on a single developer in a single area).
The 3.2 GW Jindo Offshore Wind Project Cluster consists of three offshore wind projects: Myeong Ryang Offshore Wind, Manho Offshore Wind, and Jindo Baram Offshore Wind. Myeong Ryang Offshore Wind, as the first phase of the overall cluster, has secured its Electricity Business License and completed a preliminary Environmental Impact Assessment. Manho Offshore Wind, the second phase, and Jindo Baram Offshore Wind, the third phase, were selected in August as the sole project developers for the government-designated 2.13 GW “Jindo Phase 2 Offshore Wind Integrated Cluster.”
Seung-Ho Choe, Global Head of Offshore Wind and Representative Director of Pacifico Energy Korea, said, “As a leading energy infrastructure developer, Pacifico Energy has accelerated the energy transition at industrial scale across the U.S. and the Asia-Pacific region for more than a decade. Pacifico Energy Korea’s offshore wind portfolio will supply clean energy to bolster Korea’s export competitiveness, while also building key infrastructure to support the semiconductor cluster and RE100-ready industrial complexes in Jeonnam-Gwangju.”
In the U.S., Pacifico Energy developed and permitted GW Ranch, the largest data center campus in the country, with a total capacity of 7.65 GW. Recently acquired by Amazon, construction at the project site is underway, with first power targeted for Q1 2027. Designed as a standalone power platform for hyperscale data centers and next-generation AI innovation, GW Ranch combines high-efficiency natural gas turbines, solar power, and battery storage to deliver electricity through an off-grid model that avoids placing additional strain on the power grid.