{"id":851,"date":"2024-06-27T10:16:00","date_gmt":"2024-06-27T10:16:00","guid":{"rendered":"https:\/\/pacificoenergy.neocoms.com\/en\/?p=851"},"modified":"2024-08-13T01:25:20","modified_gmt":"2024-08-13T01:25:20","slug":"pacifico-energy-signs-investment-declaration","status":"publish","type":"post","link":"https:\/\/pacificoenergy.co.kr\/en\/blog\/2024\/06\/27\/pacifico-energy-signs-investment-declaration\/","title":{"rendered":"Pacifico Energy signs Investment Declaration with MOTIE for offshore wind in South Jeolla"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"851\" class=\"elementor elementor-851\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5bc46a94 e-flex e-con-boxed e-con e-parent\" data-id=\"5bc46a94\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-7783f658 e-con-full e-flex e-con e-child\" data-id=\"7783f658\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3912454d news-tit elementor-widget elementor-widget-heading\" data-id=\"3912454d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Pacifico Energy signs Investment Declaration with MOTIE for offshore wind in South Jeolla<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5ff82da3 e-flex e-con-boxed e-con e-child\" data-id=\"5ff82da3\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4c2fb1cd e-con-full e-flex e-con e-child\" data-id=\"4c2fb1cd\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5cae5833 elementor-widget elementor-widget-heading\" data-id=\"5cae5833\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">June 27, 2024<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d2b241d elementor-widget elementor-widget-heading\" data-id=\"4d2b241d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">10:16 am<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7bbac708 e-con-full e-flex e-con e-child\" data-id=\"7bbac708\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6d45a392 elementor-widget elementor-widget-button\" data-id=\"6d45a392\" 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class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-53b47a3f elementor-widget elementor-widget-text-editor\" data-id=\"53b47a3f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Pacifico Energy signed an investment declaration (\u201cInvestment Declaration\u201d) worth several hundred billion Korean Won during an \u201cInvestment Declaration Ceremony\u201d held by South Korea\u2019s Ministry of Trade, Industry and Energy (MOTIE) in Washington, D.C. This investment will be fully allocated to the 420 MW Myeong Ryang Offshore Wind Project, which Pacifico Energy Korea is developing in Jindo County in South Jeolla Province, and to the development of the domestic offshore wind supply chain in South Jeolla Province.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5eea273c elementor-widget elementor-widget-image\" data-id=\"5eea273c\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1260\" height=\"840\" src=\"https:\/\/pacificoenergy.co.kr\/en\/wp-content\/uploads\/sites\/2\/2024\/07\/\uc0ac\uc9c4-1-crop.jpeg\" class=\"attachment-full size-full wp-image-4244\" alt=\"\" srcset=\"https:\/\/pacificoenergy.co.kr\/en\/wp-content\/uploads\/sites\/2\/2024\/07\/\uc0ac\uc9c4-1-crop.jpeg 1260w, https:\/\/pacificoenergy.co.kr\/en\/wp-content\/uploads\/sites\/2\/2024\/07\/\uc0ac\uc9c4-1-crop-300x200.jpeg 300w, https:\/\/pacificoenergy.co.kr\/en\/wp-content\/uploads\/sites\/2\/2024\/07\/\uc0ac\uc9c4-1-crop-1024x683.jpeg 1024w, https:\/\/pacificoenergy.co.kr\/en\/wp-content\/uploads\/sites\/2\/2024\/07\/\uc0ac\uc9c4-1-crop-768x512.jpeg 768w\" sizes=\"(max-width: 1260px) 100vw, 1260px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Pacifico Energy signs investment declaration with South Korea\u2019s MOTIE to develop the offshore wind project in South Jeolla Province (from left) Duk-geun Ahn, Minister of Trade, Industry and Energy of South Korea; William Nathan Franklin, CEO and Chairman,  Pacifico Energy Group<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1e8c56a3 elementor-widget elementor-widget-text-editor\" data-id=\"1e8c56a3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The Investment Declaration Ceremony was held on June 26, 2024 at the Westin Georgetown Hotel in Washington D.C.\u00a0 The ceremony was attended by Ahn Duk-geun, South Korea\u2019s Minister of Trade, Industry and Energy; William Nathan Franklin, President and CEO of Pacifico Energy; and Seung-Ho Choe, Representative Director of Pacifico Energy Korea. At the ceremony, Pacifico Energy submitted its Investment Declaration to the South Korean Minister of MOTIE. Pacifico Energy has now become the first U.S.-based renewable energy company to commit to a large-scale investment in the Korean offshore wind sector. The successful completion of the Myeong Ryang Offshore Wind Project with this investment will represent a significant milestone for the Korea-U.S. partnership in accelerating the green energy transition.<\/span><\/p><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Pacifico Energy is a U.S.-based renewable energy company specializing in the development of solar, wind, hydrogen, and energy storage system projects in the U.S. and the Asia-Pacific region. Since 2012, Pacifico Energy has accelerated the \u201cgreen transition\u201d of the emerging Asia-Pacific market with a market-leading presence in Korea, Japan, and Vietnam. In the Asia-Pacific region alone, Pacifico Energy 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.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-262a912 elementor-widget elementor-widget-image\" data-id=\"262a912\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1260\" height=\"840\" src=\"https:\/\/pacificoenergy.co.kr\/en\/wp-content\/uploads\/sites\/2\/2024\/06\/\uc0ac\uc9c4-2-crop.jpeg\" class=\"attachment-full size-full wp-image-4451\" alt=\"\" srcset=\"https:\/\/pacificoenergy.co.kr\/en\/wp-content\/uploads\/sites\/2\/2024\/06\/\uc0ac\uc9c4-2-crop.jpeg 1260w, https:\/\/pacificoenergy.co.kr\/en\/wp-content\/uploads\/sites\/2\/2024\/06\/\uc0ac\uc9c4-2-crop-300x200.jpeg 300w, https:\/\/pacificoenergy.co.kr\/en\/wp-content\/uploads\/sites\/2\/2024\/06\/\uc0ac\uc9c4-2-crop-1024x683.jpeg 1024w, https:\/\/pacificoenergy.co.kr\/en\/wp-content\/uploads\/sites\/2\/2024\/06\/\uc0ac\uc9c4-2-crop-768x512.jpeg 768w\" sizes=\"(max-width: 1260px) 100vw, 1260px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Pacifico Energy signs investment declaration with South Korea\u2019s MOTIE for hundreds million USD investment for the offshore wind project (from left) Dukryul Park, Director General for Cross-border Investment Policy, MOTIE of South Korea; Seung-Jun Lee, Head of Project Development, Pacifico Energy Korea; William Nathan Franklin, CEO and Chairman, Pacifico Energy Group; Duk-geun Ahn, Minister of Trade, Industry and Energy of South Korea; Seung-Ho Choe, Representative Director, Pacifico Energy Korea; Mary Tarnowka, Strategic Advisor, Pacifico Energy Group; Tae Hyung Kim, Commissioner of Invest Korea, the National Investment Promotion Agency<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48ecf4b elementor-widget elementor-widget-text-editor\" data-id=\"48ecf4b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">In 2018, Pacifico Energy established its Korean subsidiary, Pacifico Energy Korea, signaling its entrance into the Korean renewable energy development market. Pacifico Energy Korea is developing a 3.2 GW offshore wind project cluster in Jindo County, South Jeolla Province, one of the largest offshore wind project clusters of its kind in the Asia-Pacific region.<\/span><\/p><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">William Nathan Franklin, CEO and Chairman of Pacifico Energy, said: \u201cWe are optimistic about the green transition in the Asia-Pacific region and the future of offshore wind in South Korea. South Korea holds significant potential to become an \u2019offshore wind hub\u2019 in the Asia-Pacific region. Leveraging the Korea-U.S. partnership to accelerate the green energy transition, Pacifico Energy is making substantial investments in the 3.2 GW Jindo Offshore Wind Projects Cluster, including the Myeong Ryang Offshore Wind Project and the development of the offshore wind supply chain in South Jeolla Province, which will contribute to South Korea\u2019s goal of being carbon neutral by 2050.\u201d<\/span><\/p><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Seung-Ho Choe, Representative Director of Pacifico Energy Korea, stated: \u201cWith this investment declaration, we aim to accelerate the Myeong Ryang Offshore Wind Project and spearhead the development of the offshore wind industry in South Jeolla Province and Jindo County. As a leading renewable energy developer in the Asia-Pacific region, Pacifico Energy is dedicated to establishing and strengthening collaborations with South Korean suppliers to develop a robust offshore wind supply chain in South Jeolla Province. We remain committed to supporting South Korea\u2019s efforts to enhance its position in the Asia-Pacific offshore wind industry.\u201d<\/span><\/p><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Pacifico Energy Korea\u2019s 3.2 GW offshore wind project 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 application process. Myeong Ryang Offshore Wind will undertake a geotechnical survey, an environmental impact assessment (EIA), and seek permission for the occupation and use of public waters after obtaining an Electricity Business License. Pacifico Energy Korea expects to commence construction in 2025 and commercial operation by 2032.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-77311af6 e-flex e-con-boxed e-con e-parent\" data-id=\"77311af6\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6f76e222 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"6f76e222\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-19c319af elementor-align-center elementor-widget elementor-widget-button\" data-id=\"19c319af\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"\/en\/news\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">List<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c9f947e elementor-widget elementor-widget-html\" data-id=\"7c9f947e\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<!--NO DELETE \ud604\uc7ac \ub9c1\ud06c \ubcf5\uc0ac -->\n\n<script>\n    const copyBtn = document.getElementById('copyURL');\n\n    copyBtn.addEventListener('click', () => {\n        const url = window.location.href;\n        navigator.clipboard.writeText(url).then(() => {\n            alert('\uc8fc\uc18c\uac00 \ubcf5\uc0ac\ub418\uc5c8\uc2b5\ub2c8\ub2e4. \uc6d0\ud558\ub294 \uacf3\uc5d0 \ubd99\uc5ec\ub123\uae30(Ctrl+V)\ud574\uc8fc\uc138\uc694.');\n        }).catch(() => {\n            alert('Error copying URL to clipboard');\n        });\n    });\n<\/script>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Pacifico Energy signed an investment declaration (\u201cInvestment Declaration\u201d) worth several hundred billion Korean Won during an \u201cInvestment Declaration Ceremony\u201d held by South Korea\u2019s Ministry of Trade, Industry and Energy (MOTIE) in Washington, D.C. This investment will be fully allocated to the 420 MW Myeong Ryang Offshore Wind Project, which Pacifico Energy Korea is developing in Jindo County in South Jeolla Province, and to the development of the domestic offshore wind supply chain in South Jeolla Province.<\/p>\n","protected":false},"author":1,"featured_media":4392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[23],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/posts\/851"}],"collection":[{"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/comments?post=851"}],"version-history":[{"count":90,"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/posts\/851\/revisions"}],"predecessor-version":[{"id":5768,"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/posts\/851\/revisions\/5768"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/media\/4392"}],"wp:attachment":[{"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/media?parent=851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/categories?post=851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pacificoenergy.co.kr\/en\/wp-json\/wp\/v2\/tags?post=851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}