Vena Energy to invest US$200 million in Yoki offshore wind farm
Vena Energy, a leading green energy solution provider in the Asia-Pacific region, has announced a significant investment to accelerate South Korea’s transition to renewable energy and enhance its energy independence. The announcement was made during an Investment Ceremony with the Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA).
This investment includes US$200 million (approximately KRW 280 billion) for the Yokji offshore wind project, located in South Gyeongsang Province. With a planned capacity of 384 MW, the project will play a key role in diversifying South Korea’s energy mix and increasing the share of domestically generated energy in the grid. By reducing reliance on imported fossil fuels, the project will directly contribute to the country’s long-term energy security and carbon-neutrality goals.
Vena Energy is dedicated to building strong partnerships with local communities, fisheries, and local suppliers to ensure the project delivers economic and social benefits. By prioritising collaboration with local businesses, the company aims to create new opportunities and contribute to the development of South Korea’s renewable energy industry. Yokji offshore wind project is currently exploring industrial contributions with the local supply chain while actively seeking ways to coexist with local fishermen in the region.
In addition to Yokji offshore wind project, Vena Energy has developed another landmark offshore wind project in South Korea. The 500 MW Taean offshore wind project was awarded in the 2024 offshore wind auction and is set to begin construction by the end of next year, in partnership with Copenhagen Infrastructure Partners (CIP). Once completed, the project will generate enough clean electricity to power approximately 300 000 homes annually. This milestone underscores Vena Energy’s leadership in developing efficient offshore wind farms with a competitive levelized cost of energy (LCOE).
Beyond offshore wind, Vena Energy is actively expanding its renewable energy and digital portfolio across South Korea, harnessing the country’s abundant wind resources and advanced technology to deliver clean, domestic green solutions to local communities.
Nitin Apte, CEO of Vena Energy, commented: “Our investment in South Korea underscores our commitment to supporting the country’s energy transition and independence. By expanding our renewable energy projects and strengthening local partnerships, we aim to contribute to a more sustainable and resilient energy future.”
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Read the article online at: https://www.energyglobal.com/wind/26032025/vena-energy-to-invest-us200-million-in-yoki-offshore-wind-farm/
