Vena Energy expands Korea offshore wind portfolio to 20 trillion won

Original Korean article: Inyuseutudei

Taean 500MW and Yokji 384MW offshore wind projects underway, expanding domestic clean energy investment

Buena Energy, which operates renewable energy projects across the Asia-Pacific region, is expanding its business scope centered on offshore wind while integrating energy storage systems (BESS) and AI data centers, along with domestic supply chains.

Linking renewable energy, BESS, and AI data centers, diversifying business models beyond power generation

According to industry sources on the 28th, Buena Group is positioning South Korea as a key strategic market and expanding investment in renewable energy and digital infrastructure sectors. The domestic investment plan announced last year amounts to 20 trillion won in total project costs, with two pillars: Buena Energy handling clean energy production and Buena Nexus, an AI-based digital infrastructure platform.

Offshore wind stands at the center of the renewable energy sector. Buena Energy is advancing large-scale projects with bases in Taean, Chungcheongnam-do and Yokji, Gyeongnam. The company is carrying out a 500MW offshore wind project in Taean and developing a 384MW power generation complex in waters near Yokji.

In particular, Buena Group signed a 1 trillion won investment memorandum of understanding (MoU) with Chungcheongnam-do and Taean County in March. The plan involves creating a large-scale renewable energy complex including offshore wind in the Taean area by 2030. If the project proceeds as planned, the company expects to produce over 1.6TWh of clean electricity annually and reduce greenhouse gas emissions by approximately 740,000 tons per year by replacing fossil fuel power generation.

Buena Energy's strategy does not stop at power plant construction. The company is diversifying its business model by storing electricity produced from renewable energy and supplying it to large-scale consumers. The company's onshore wind, solar, and offshore wind development portfolio secured in the global market reaches a total of 38GW, and it also holds a BESS pipeline of 25GWh scale.

Strengthening long-term cooperation with domestic supply chains, pursuing co-growth with regional industrial ecosystem

AI data centers represent another axis of this business diversification. Last year, Buena Group separated the digital infrastructure business, personnel, and development pipeline that had been handled by Buena Energy and launched "Buena Nexus," a 100% subsidiary. The concept is to specialize in renewable energy and digital infrastructure respectively while linking large-scale power-demanding AI data centers with clean energy through cooperation between the two sectors.

In the process of expanding domestic operations, the company is also making efforts to cooperate with regional supply chains. Buena Energy has explored cooperation methods with domestic companies including Gyeongnam Province and Korea Midland Power, SK Oceanplant, HSG Sungdong Shipbuilding, and GS Entec in connection with the Yokji offshore wind project. The plan is to build long-term partnerships with regional suppliers and actively utilize domestic industrial capabilities in offshore wind equipment procurement and construction and operation processes.

Since offshore wind involves various industries interconnected beyond generators—including substructures, cables, substation equipment, and vessels—securing the supply chain is directly linked to project competitiveness. Buena Energy's direct outreach to companies in the Gyeongnam region to discuss long-term cooperation methods is intended to broaden connection points with the regional industrial ecosystem. The company expects such cooperation to contribute not only to the smooth implementation of individual projects but also to the growth of South Korea's renewable energy industry.

The foundation of business diversification lies in development experience accumulated in the Asia-Pacific region. Buena Energy holds a renewable energy portfolio of 38GW scale and a BESS pipeline of 25GWh scale, with over 1,000 employees working at more than 80 headquarters and field offices worldwide.

A Buena Energy official stated, "We view South Korea as a key strategic market and plan to continuously expand renewable energy projects including offshore wind while strengthening cooperation with domestic supply chains and local communities, thereby contributing to South Korea's energy transition in the long term."

KWI developer profile — Vena Energy

2 projects in Korea totalling 888 MW. Compiled from the KWI database. Not part of the source article.

Taean Offshore Wind

Mijo (former Yokji) Offshore Wind

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Project data: KWI database — Electricity Business Licence records, EIA filings (ME2021C010, ME2023C022), Electricity Regulatory Commission minutes, and pre-EBL permit filings.