According to Institute for Energy Economics & Financial Analysis article published February 24, 2023, Canada-headquartered Northland Power has secured two Electricity Business Licenses (EBLs) for its 1,000 MW Dado and 600 MW Bobae offshore wind projects in South Korea.
The Dado offshore wind project was awarded EBL for 900 MW of the 1,000 MW capacity, providing exclusivity on the leases for the project.
The project is expected to advance to mid-stage development and will begin progressing with engineering surveys and securing grid capacity, according to Northland Power.
Northland Power acquired the South Korean offshore wind developer Dado Ocean Wind Farm in 2020 and obtained multiple early-stage offshore wind development sites of the Dado Ocean project in Chodo-ri and Sonjuk-ri of Yeosu City, located 35 kilometres off the southern coast of the Korean Peninsula.
Following the acquisition, Northland Power identified additional offshore wind development sites in the proximity of Dado Ocean’s original sites, which increased the development capacity to 1,000 MW.
Northland Power is also developing another project in South Korea, namely the 600 MW Bobae offshore wind farm, which was awarded EBL for approximately 400 MW. The company says that it continues work on securing EBLs for the remaining 200 MW.
