Pacifico Energy commits billion-dollar investment to Jindo offshore wind

Original Korean article: Electric Times

Pacifico Energy is pursuing trillion-won-scale investment in an offshore wind project under way in Jindo, Jeollanam-do.

Pacifico Energy announced on the 4th that it had confirmed investment plans for Manho Offshore Wind (990MW) and Jindo Baram Offshore Wind (1.8GW) at the U.S. Investment Declaration and Investor Roundtable held in Washington D.C. on the 3rd (local time), and reported them to the Ministry of Trade, Industry and Energy. Although the specific investment amount was not disclosed, the reported investment will be allocated entirely to Manho Offshore Wind and Jindo Baram Offshore Wind.

The event, hosted by the Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA), was attended by Minister of Trade, Industry and Energy Kim Jeong-gwan and Choi Seung-ho, Global Offshore Wind Director and Korea Representative of Pacifico Energy.

Clean energy for advanced industries

Industry Minister Kim Jung-gwan (right) and Persico Energy Global Offshore Wind Director and Korea Representative Choi Seung-ho (left) pose for a commemorative photo at a U.S. investment announcement ceremony. · Photo: Electric Times

This investment decision is interpreted as a strategic move to establish a foothold in the clean energy supply sector needed for advanced industries such as domestic semiconductors and artificial intelligence data centers.

As advanced industries including semiconductors, AI data centers, and cloud computing grow, the importance of securing "critical power," which means stable electricity supply, is increasing. In particular, Gwangju and Jeollanam-do are pursuing the development of advanced industries including semiconductor clusters. Pacifico Energy plans to supply clean energy produced from the Jindo offshore wind project to these industries.

This investment report follows the 2024 Korea investment report for Myeongnyang Offshore Wind and regional supply chain construction, gradually materializing large-scale offshore wind investment plans for clean energy supply to advanced industries.

Asia-Pacific's largest single-site project

Pacifico Energy Korea is developing an offshore wind power generation cluster with a total capacity of 3.2GW in waters off Jindo County, Jeollanam-do, divided into three phases. It is the largest in the Asia-Pacific region on a single-site, single-developer basis.

The first phase, Myeongnyang Offshore Wind with a capacity of 420MW, has obtained an Electricity Business License and completed the draft environmental impact assessment. The second phase, Manho Offshore Wind, and the third phase, Jindo Baram Offshore Wind, were selected as project developers for the 2.13GW-scale Jindo Phase 2 Offshore Wind Integrated Zone designated by the government in August of last year. Pacifico Energy has applied for Electricity Business Licenses for Manho Offshore Wind and Jindo Baram Offshore Wind at capacities of 990MW and 1.8GW respectively.

Choi Seung-ho, Global Offshore Wind Director and Korea Representative of Pacifico Energy, said, "Pacifico Energy is a leading energy infrastructure company that has driven energy transition commensurate with industry scale in the United States and the Asia-Pacific region over the past decade. Through Myeongnyang Offshore Wind, the central axis of the 3.2GW Jindo offshore wind power generation cluster, and the 2.13GW Jindo Phase 2 Offshore Wind Integrated Zone, Pacifico Energy plans to focus on supplying clean energy that forms the foundation of Korea's export competitiveness while playing a key role in building infrastructure to support semiconductor clusters in the Gwangju and Jeollanam-do region and the development of RE100 industrial zones."

Meanwhile, Pacifico Energy developed the Gigawatt Ranch project, a 7.65GW data center campus in the United States. With Amazon recently acquiring the project, construction has begun with a target of power generation in the first quarter of 2027. Designed as a standalone power generation facility for hyperscale data centers and next-generation AI innovation, it will supply power through an off-grid method combining high-efficiency natural gas turbines, solar power generation, and battery storage systems, placing no additional burden on the power grid.