Orsted Gets License for South Korea Offshore Wind Project
By Christian Moess Laursen
Orsted said it has received a 1.6 gigawatt electricity business license for an offshore wind project in South Korea, which is set to become the largest in the country.
The Danish wind power developer said Thursday that the business license grants it exclusive development rights for the Incheon project, located 70 kilometers off the coast of Incheon city.
The project is expected to be completed in early 2030s, subject to a final investment decision following environmental impact assessments, site investigations, and preparations for participating in South Korea's annual fixed-price wind auction.
Orsted said the project has the capacity to provide renewable energy to more than a million Korean households while reducing carbon emissions by around 4 million metric tons annually.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
November 30, 2023 03:24 ET (08:24 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks