US-Based Developer to Cooperate with Korea's Hana Group on Financing 3.2 GW Offshore Wind Cluster
The MoU covers cooperation on financing across development, construction and operational phases, including project finance, financial advisory services and investment attraction, and the parties will explore models to support the domestic supply chain. The 3.2 GW Jindo cluster off Jindo County, South Jeolla Province, comprises the 420 MW Myeong Ryang (Electricity Business License secured in 2025, with geophysical surveys and preliminary EIA completed), the 990 MW Manho and the 1.8 GW Jindo Baram projects; applications for Electricity Business Licenses for the latter two are under review. This is the first collaboration that brings together Korean financial institutions and a U.S.-based offshore wind developer for Korea’s industry, according to Pacifico Energy Korea.