Ørsted and Incheon City sign MoU to establish world-class offshore wind power industry

The aim of the agreement is to establish a successful local wind power industry driven by Ørsted's 1.6 GW offshore wind project off the coast of Incheon.

Ørsted and Incheon City sign MoU to establish world-class offshore wind power industry

Ørsted has signed a memorandum of understanding (MoU) with Incheon Metropolitan City, Korea, to cooperate on developing a world-class offshore wind power industry in the region. 

Through this collaboration, Incheon City will provide administrative support, including enhancing local awareness and understanding, and establish policies and infrastructure for offshore wind, while Ørsted will leverage its more than 30 years of experience to develop its projects into an exemplary model that will be of mutual benefit to local residents, businesses, and suppliers.

On behalf of the Ørsted Group, Thomas Thune Andersen, Chair of Ørsted's Board of Directors, signed the agreement together with Yoo Jeong-bok, Mayor of Incheon, at a ceremony at Ørsted's offices in Greater Copenhagen in Denmark. The event was attended by Lars Aagaard, Danish Minister for Climate, Energy & Utilities, Kim Hyung Gil, Korean Ambassador to Denmark, and Svend Olling, Danish Ambassador to Korea.

Thomas Thune Andersen, Chair of the Board of Directors of Ørsted A/S, says:

"Ørsted will work closely with the City of Incheon to launch a new offshore wind industry and boost local economic development in the region. We have a strong track record working with Korean suppliers in our global portfolio over the past decade. We'll build on this legacy of collaboration with our Incheon project, which will lead the way for a thriving offshore wind industry by generating reliable renewable energy, attracting long-term investments, and creating jobs."

Yoo Jeong-bok, Incheon Metropolitan City Mayor, says:

"Offshore wind is a powerful means of achieving decarbonisation and a new industry that can grow sustainably. I expect that today's agreement with Ørsted will help revitalise our local economy, boost the supply chain, and become a great opportunity for the growth of offshore wind power projects that benefit the region and the growth of our local industry."