Pacifico and Seogeocha Island sign co-existence agreement to accelerate Myeong Ryang project
Pacifico Energy Korea has signed a Co-Existence Agreement to accelerate the development of the company’s Myeong Ryang Offshore Wind Project with the Seogeocha Island Offshore Wind Promotion Committee, which comprises of residents of Seogeocha Island located in Jindo County, South Jeolla Province. With this agreement, Pacifico Energy Korea achieved a significant milestone towards the development of its 420 MW Myeong Ryang Offshore Wind Project.
Pacifico Energy, a global renewable energy developer headquartered in California, is leading the “green transition” in the emerging Asia-Pacific market. It has over 1.5 GW of renewable energy projects in operation or under construction, along with a pipeline of over 10 GW of offshore wind projects under development. Pacifico Energy established its Korean subsidiary, Pacifico Energy Korea, in 2018. In Korea, Pacifico Energy Korea is developing a 3.2 GW offshore wind project cluster in Jindo County, one of the largest offshore wind project clusters of its kind in the Asia-Pacific region. The cluster consists of three offshore wind projects: Myeong Ryang Offshore Wind (420 MW), Manho Offshore Wind (990 MW), and Jindo Baram Offshore Wind (1.8 GW). The Myeong Ryang Offshore Wind Project, as the first phase of the overall cluster, is currently undergoing the Electricity Business License process.
Han Hyun-jae, chairman of the Seogeocha Island Offshore Wind Power Promotion Committee, said: “Offshore wind projects that co-exists with residents can create a sustainable future for Jindo County and Seogeocha Island. We will actively cooperate with Pacifico Energy Korea to swiftly advance offshore wind projects in collaboration with the local community.”
Choe Seung-Ho, Representative Director of Pacifico Energy Korea, said: “The most important aspect of a successful offshore wind project is the long-term partnerships with the residents and fishermen in the project area and beyond. Together with the local community, we aim to accelerate the development of the MyeongRyang Project, contributing to job creation, vitalization of the local economy, and enhancing the competitiveness of the offshore wind industry in South Jeolla Province.”
Kim Chun-geun, Senior Managing Director of Pacifico Energy Korea, said: “Pacifico Energy Korea will continue to engage in dialogue with local stakeholders, including the Seogeocha Island Offshore Wind Promotion Committee and the local community, throughout all stages of the Myeong Ryang Offshore Wind Project.”
Meanwhile, Pacifico Energy Korea has completed all co-existence agreements with three key communities around the Myeong Ryang Offshore Wind Project area. The company signed agreements in 2022 with the Donggeochado Wind Power Promotion Committee and the Maenggol County Offshore Wind Power Promotion Committee.