RWE Gets Exclusive Offshore Wind Development Rights in South Korea
By Pierre Bertrand
Germany's RWE received its first exclusive development rights for a wind farm off the western coast of South Korea.
The energy company secured a 495-megawatt electricity business licence from the South Korean government to develop the Seohae offshore wind farm, it said.
The project is located about 45 kilometers from the shore of the country's Taean County, RWE said, adding that the license is required for generating and suppling electricity in South Korea.
The company added that the license grants it its first exclusive development rights for offshore wind in the country since it opened an office in Seoul three years ago.
RWE said engineering and environmental impact studies are underway and that it would work with Korea Electric Power Corporation on getting a grid-connection agreement.
The project is planned to be commissioned in 2031, an RWE spokeswoman said when approached by Dow Jones Newswires.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
April 04, 2024 07:10 ET (11:10 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations