Posted on March 9, 2026
By Cho Sungshin
Korea Southern Power (KOSPO) is joining forces with KEB Hana Bank to expand its renewable energy portfolio, with a focus on offshore wind power.
KOSPO announced on the 8th that it had signed a “Business Agreement for Joint Development of Offshore Wind and Renewable Energy Projects” with KEB Hana Bank on the 6th at the Hana Securities Building in Yeouido, Seoul, with executives including Yun Sangok, Executive Vice President for Renewable Energy at KOSPO, and Lee Byung-sik, Deputy President of KEB Hana Bank’s Investment Banking Group, in attendance.
The agreement was prepared in response to the government’s policy to expand offshore wind power and to help achieve carbon neutrality ahead of schedule. The two parties plan to mitigate early-stage development risks in offshore wind projects and to further advance project financing structures. They also intend to contribute to the national energy transition policy and take the lead in revitalizing the domestic renewable energy ecosystem.
Yun Sangok, Executive Vice President for Renewable Energy, stated, “Offshore wind power is a key energy source that will drive carbon neutrality and the national energy transition, and securing a stable project implementation framework is more important than anything else,” adding, “Through strategic collaboration with KEB Hana Bank, KOSPO will fully play its role as a public energy company leading the expansion of renewable energy.”
KOSPO is currently operating onshore and offshore wind farms at 10 sites nationwide. Major projects such as the Yeonggwang Yaweol Offshore Wind Farm (104 MW) and the Dadaepo Offshore Wind Farm in Busan (99 MW) are being pursued with the goal of starting construction between 2026 and 2027.
KEB Hana Bank has built its expertise by acting as an arranger for numerous offshore wind and renewable energy projects.
