A 504MW offshore wind project off Taean has moved into the main contract phase for its offshore substation (OSS), even as the developer continues gathering opinions from local fishermen and pursuing administrative procedures related to public waters, according to reporting.
HD Hyundai Heavy Industries announced on October 2 that it had signed a project contract with Taean Wind Power on October 1 to conduct design, procurement, manufacturing, installation and commissioning of a 500MW-class offshore substation for Taean. The contract followed a preliminary design agreement in March and a preferred supplier agreement in July.
The offshore substation is a critical facility that collects power generated by offshore wind turbines, steps up the voltage and sends it to the onshore grid. HD Hyundai Heavy Industries has said it received international design verification from DNV, the Norwegian classification society, for its own 500MW-class offshore substation model developed last year.
The contract itself is confirmed. The issue is the gap between the timing of the contract signing and the administrative and social procedures underway at the Taean site.
The developer's timeline has already reached main contract
According to the project schedule disclosed by Taean Wind Power, the developer obtained an Electricity Business Licence (EBL) in March 2021, completed a maritime traffic safety assessment in November 2021, signed a transmission facility usage agreement in March 2022, and underwent an environmental impact assessment (EIA) in August 2023.
The developer's website currently shows construction start (NTP) scheduled for the fourth quarter of 2026, final investment decision (FID) for the fourth quarter of 2026, and commercial operation (COD) for the fourth quarter of 2029.
In September, the developer also disclosed that it had signed a long-term renewable energy certificate (REC) supply contract totalling 500MW with KOWEPO (Korea Western Power) and Gangneung Eco Power.
Then on October 1, the developer moved the critical offshore substation into the main contract phase. Looking only at the developer's timeline, the project has clearly made substantial progress.
However, "progress in contracts between companies" and "completion of all administrative procedures and resolution of stakeholder interests" do not mean the same thing.
Taean County notice still shows application stage
A notice published by Taean County in September, numbered 2026-1590, was a procedure to gather opinions from stakeholders after Taean Wind Power applied for approval to occupy and use public waters for construction and commercial operation of the 504MW offshore wind project.
According to the notice, the project area covers waters off Gaui-do in Geunheung-myeon and Banggal-ri in Wonbuk-myeon. Substantial use of public waters is planned during construction and operation phases.
That is, the notice alone does not show that approval to occupy and use public waters had already been completed at that time. Yet in that situation, the developer proceeded through preliminary design in March and a preferred supplier agreement in July, and by October had signed a main contract covering design, procurement, manufacturing, installation and commissioning of the offshore substation.
If so, the administration needs to explain to county residents and fishermen exactly what stage the project is currently at.
Fishermen asked for opinions, company signs main contract
This is the core of this reporting. At the site, fishermen have raised objections regarding overlaps between the project area and fishing grounds. Data from the National Federation of Fisheries Cooperatives that this outlet confirmed earlier showed that fishing areas 162 and 163 are waters where substantial fishing activity takes place.
Therefore, this contract should not lead to a conclusion favouring either side. Rather, the order of questions matters.
Does the main contract with HD Hyundai Heavy Industries contain conditions precedent to its effectiveness, such as failure to obtain permits or failure to complete final investment decision? What stage is the approval to occupy and use public waters currently at? Has the MND (Ministry of National Defense) and the relevant military command completed final coordination to resolve military operational restrictions? How will the results of fishermen's opinion gathering be reflected in project design? If objections are substantial, can the project area, construction methods and fishery damage mitigation measures be changed? Without answers to these questions, if reporting simply conveys the company announcement that "an offshore substation will be built," readers may accept it as if all procedures have been completed and construction is confirmed.
The joint venture explanation also requires accurate verification
Reports citing the HD Hyundai Heavy Industries announcement describe Taean Wind Power as a joint venture of Vena Energy, CIP and KOWEPO.
This part also requires reporting. The current accurate shareholder register of Taean Wind Power, the shareholding ratio of each shareholder, the timing of KOWEPO's investment and the method of acquiring its stake, and how the existing Vena Energy and CIP shareholding structure has changed should be verified through corporate registration, shareholder registers and KOWEPO board meeting minutes.
A distinction must be made between the fact that a company press release uses the term "joint venture" and confirmation of the accurate current shareholding structure.
The difference between 500MW and 504MW also needs explanation
Another notable point is the numbers. The HD Hyundai Heavy Industries announcement refers to a 500MW-class offshore wind farm and 500MW-class offshore substation. Meanwhile, the official website of Taean Wind Power lists the power generation project size as 504MW.
This is not necessarily a contradiction. It is possible that the standard equipment rating of the offshore substation was expressed as 500MW-class.
However, it is worth asking the developer how the 504MW in the Taean County notice and the Electricity Business Licence (EBL) was designed in this offshore substation contract.
Opposition opinions still being gathered, but how far can contracts proceed?
Reducing this matter simply to "HD Hyundai Heavy Industries will build an offshore substation in Taean" omits the situation on the ground at Taean.
The developer is already proceeding sequentially with major project contracts including submarine cables, renewable energy certificates and the offshore substation. Taean Wind Power itself describes itself as the most advanced project in development stage among projects off Taean.
Meanwhile, fishermen who actually use public waters have been asked until recently to submit opinions on whether the project area and fishing grounds overlap, fishing seasons, fish species and anticipated damage.
What is needed now is not slogans about stopping or pushing forward the project. Rather, it is to disclose in a single table where the developer's project contract timeline, the administration's approval timeline and the fishermen's opinion-gathering timeline currently stand.
Taean County and Taean Wind Power need to disclose the current status and sequence of each stage: Electricity Business Licence (EBL), environmental impact assessment (EIA), military operations coordination, public waters occupation and use approval, fishery damage survey and coordination, final investment decision (FID) and construction start (NTP).
If procedures remain incomplete in that process, that fact too must be stated clearly.
A signed contract does not mean the sea is approved
There is no reason to deny the industrial significance of this contract. HD Hyundai Heavy Industries gains an opportunity to expand its offshore wind supply chain business by applying the 500MW-class offshore substation developed domestically to an actual project. However, the waters off Taean are not a space that can be used based on a company's contract alone.
Fishing is taking place there, it is public waters, and multiple public interests overlap including military operations, navigation and marine environment. Therefore, the fact that a main contract between companies has been signed and the determination that all administrative procedures necessary for the project have been completed must be strictly distinguished.
Under what conditions was the developer able to sign the main contract for the offshore substation while fishermen are still being asked for their opinions? And are the objections and modification opinions submitted by fishermen opinions that can actually change future project plans, or are they opinion-gathering premised on a project for which major contracts have already been signed?
Without answers to these two questions, this reporting on the HD Hyundai Heavy Industries contract becomes a new starting point for verifying whether Taean County's resident opinion-gathering procedure was substantive.
Original Korean article: Taimnyuseu
English brief by Korea Wind Intelligence, koreawindintel.com
KWI developer profile — KOWEPO
7 projects in Korea totalling 2,468 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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Related coverage
- Taean County Chief Demands Community Acceptance for Offshore Wind Approval — 2026-10-09
- Hyundai Heavy Industries wins Taean offshore substation construction contract — 2026-10-02
- GS Entech supplies 37 monopiles for Taean offshore wind project — 2026-10-01
Project data: KWI database — Electricity Business Licence records, EIA filings (ME2021C010, ME2023C024), Electricity Regulatory Commission minutes, and pre-EBL permit filings.
