POSCO E&C breaks ground on Gochang Offshore Wind Project, to supply renewable power to advanced industries in Southwest region

[Financial News] POSCO E&C is starting work on a large-scale offshore wind farm off the coast of Gochang County, North Jeolla Province, and aims to establish a renewable energy supply hub for advanced industries in the Southwest region. The company said on the 11th that it had signed a construction contract for the 76.2-megawatt (MW) Gochang Offshore Wind Project and would begin full-scale construction this month. The project, which will cost approximately 297.4 billion won, is targeted for completion and commercial operation in August 2029, with POSCO E&C overseeing the entire engineering, procurement and construction (EPC) process.
Once the Gochang offshore wind farm is completed, it will generate approximately 146 GWh of clean electricity a year—enough to power about 35,000 average households for a year. Replacing fossil fuels with offshore wind power could cut greenhouse gas emissions by approximately 61,000 tons annually. The project is also expected to create about 11,800 jobs during construction and make a significant contribution to revitalizing the local economy.
The project is expected to play a pivotal role in ensuring a stable renewable energy supply for the Southwest region, including North and South Jeolla provinces, where semiconductor clusters and data centers are expected to be developed in close proximity. By supporting the achievement of RE100 (procuring 100% of electricity used from renewable sources), which has become an essential condition for the survival of global advanced-technology companies, the project is expected to provide a powerful boost to attracting businesses to the Southwest region and strengthening its industrial competitiveness.
To withstand harsh marine conditions, POSCO E&C is combining POSCO Group’s competitive strengths in steel materials with its accumulated construction expertise. The company plans to maximize the structures’ durability by using POSCO’s high-quality specialty steel, which is strong and resistant to corrosion from seawater. It will also draw on its expertise in large-scale offshore construction, demonstrated in projects including Incheon’s Cheongna Haneul Bridge and overseas port construction, to fully ensure safety and quality.
After POSCO Group announced last July that it would enter the offshore wind business in the ‘energy resources’ sector, this project has been viewed as a representative success story demonstrating the synergy between POSCO’s high-quality steel materials and POSCO E&C’s EPC capabilities. A POSCO E&C official said, “The Gochang Offshore Wind Project is a meaningful undertaking that will supply renewable electricity essential to the region’s advanced industrial complexes while also helping the domestic offshore wind ecosystem grow,” adding, “Using this project as a springboard, we will lead the large-scale offshore wind market in the future and take the lead in accelerating the nation’s energy transition.”

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