HD Hyundai Heavy Industries has won a contract to build a 500 megawatt offshore substation in Taean, expanding its offshore wind business.
HD Hyundai Heavy Industries announced on October 2 that it had signed a project contract with Taean Wind Power on October 1 to perform design, procurement, manufacturing, installation and commissioning of the Taean offshore substation.
Taean Wind Power is a joint venture of Singapore renewable energy company Vena Energy, Danish developer Copenhagen Infrastructure Partners, and KOWEPO (Korea Western Power).
The signing ceremony was attended by Won Gwang-sik, head of HD Hyundai Heavy Industries' Marine Energy Business Division, and Clement Elvik de Balzac, chief executive officer of the Taean Wind Power project.
Design and approval milestones
HD Hyundai Heavy Industries signed a preliminary design contract for the project in March 2026, followed by a preferred supplier contract in July. After detailed consultations between the two companies, they have now signed the main contract and will begin full project execution.
The offshore substation is a critical facility that transmits electricity generated by wind turbines in an offshore wind farm to the mainland. This offshore substation will step up the voltage of electricity produced at the 500 megawatt offshore wind farm near Gaeui Island in Taean County and transmit it to the shore.
HD Hyundai Heavy Industries obtained basic design verification from DNV (Det Norske Veritas) in 2025 for its independently developed 500 megawatt offshore substation model. It completed detailed design verification in August. This marks the first time a domestic offshore substation project has received recognition for design conformity and safety in accordance with international regulations and standards.
Future expansion plans
HD Hyundai Heavy Industries plans to explore cooperation on follow-up projects in domestic offshore wind being pursued by Vena Energy, Copenhagen Infrastructure Partners and KOWEPO.
An HD Hyundai Heavy Industries official said, "We will stably execute this offshore substation project based on our accumulated offshore plant capabilities. We will secure additional business opportunities in the renewable energy sector going forward and strengthen our competitiveness in the related market."
HD Hyundai Heavy Industries recorded revenue of 6.332 trillion won and operating profit of 1.0399 trillion won in the second quarter of 2026.
Original Korean article: News1
English brief by Korea Wind Intelligence, koreawindintel.com
KWI developer profile — KOWEPO
7 projects in Korea totalling 2,464 MW. Compiled from the KWI database. Not part of the source article.
Taean Offshore Wind — this article
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RWE West-Sea Offshore Wind
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Taean Gaui Offshore Wind
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Wando Jangbogo Offshore Wind
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Jindo Gujado Offshore Wind
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Ansan Pungdo Offshore Wind
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Wando Offshore Wind
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Project data: KWI database — Electricity Business Licence records, EIA filings (ME2021C010, ME2023C024), Electricity Regulatory Commission minutes, and pre-EBL permit filings.
