POSCO E&C breaks ground on 297.4 billion‑won offshore wind project in Gochang
POSCO E&C announced it will begin full‑scale construction of a 76.2 MW offshore wind farm off Gochang, South Korea. The project costs about 297.4 billion won and is slated for commercial operation by August 2029. It is expected to generate roughly 146 GWh of electricity per year, cut greenhouse‑gas emissions by about 61,000 tons annually and create around 11,800 construction jobs. The company will use POSCO’s high‑grade specialty steel and its own EPC expertise to build the facility.
Why it matters
The project adds a new renewable‑energy asset to POSCO’s portfolio, expanding its presence in the offshore wind market and potentially supporting future contracts in the region. Completion will increase the supply of clean power for local high‑tech industries, which may improve the company’s long‑term revenue outlook.
Key facts
- 1Construction of a 76.2‑megawatt offshore wind project will begin in November 2026. mbiz.heraldcorp.com
- 2Total construction cost is about 297.4 billion won (≈ $221 million). mbiz.heraldcorp.com
- 3Commercial power generation is targeted for August 2029. mbiz.heraldcorp.com
- 4The plant is expected to generate about 146 GWh of electricity per year. mbiz.heraldcorp.com
- 5Annual greenhouse‑gas emissions are projected to be reduced by roughly 61,000 tons. mbiz.heraldcorp.com
- 6Approximately 11,800 jobs are expected to be created during construction. mbiz.heraldcorp.com
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.