Norwegian Firm Gets Electricity License for South Korean Offshore Wind Project
July 3, 2025
Norway-based company Deep Wind Offshore has secured the Electricity Business License (EBL) for the Admiral Lee offshore wind project in South Korea.
The approval marks a major step forward for the 345 MW offshore wind project and highlights the strength of collaboration between domestic and international companies in the country’s growing offshore wind sector.
With this milestone, planned to be the first of several EBL’s, the large-scale project off the coast of Yeosu, Jeollanam-do has entered the next development phase.
Admiral Lee is being developed based on a partnership signed in 2025 between Deep Wind Offshore and Korea’s largest power producer Korea Hydro & Nuclear Power (KHNP), combining international offshore wind expertise with strong domestic capabilities in executing and operating major energy infrastructure projects.
The EBL follows the earlier approval of the Public Water Surface Occupancy and Use Permit (PWOP) in December 2024. With both key development consents secured, the project will now proceed with the Environmental Impact Assessment (EIA) and Implementation Plan Approval and will target participation in upcoming centrally run REC/PPA auctions thereafter.
Additionally, based on high-resolution integrated wind data collected through the floating LiDAR installed in May 2025, the project area is planned to be expanded, along with an increase in total generation capacity of more than 1 GW.
“Securing the EBL is a major step forward – not only for the Admiral Lee project, but for Deep Wind Offshore’s long-term presence in Korea and our path towards realizing the project together with strong local partners.
“We firmly believe in the potential of the Korean offshore wind market and its strong leadership from central government to turn ambitions into projects. It is a testament to the strength of true partnerships built on mutual respect and shared ambitions,” said Knut Vassbotn, CEO of Deep Wind Offshore.
