• Pacifico Energy plans to invest more than $1 billion in two South Korean offshore wind projects with 2.79 GW of combined capacity.
• The developments form part of a 3.2 GW cluster designed to supply clean power to semiconductor and advanced industrial facilities.
• Government designation of the 2.13 GW Jindo Phase 2 cluster gives Pacifico a central role in South Korea’s energy and industrial strategy.

Investment targets 2.79 GW of offshore capacity

Pacifico Energy has committed more than $1 billion to two offshore wind projects in South Korea, linking large-scale renewable generation with the country’s ambitions in semiconductors and other advanced industries.

The American developer submitted the investment declaration to South Korea’s Ministry of Trade, Industry and Resources. The funding will support the 990 MW Manho Offshore Wind project and the 1.8 GW Jindo Baram Offshore Wind project.

The declaration was presented on September 3 during a U.S. Investment Ceremony hosted by the ministry and the Korea Trade-Investment Promotion Agency. The event took place at the Willard InterContinental Hotel in Washington.

It was Pacifico’s second investment declaration involving its South Korean offshore wind portfolio. In 2024, the company made an earlier declaration covering the 420 MW Myeong Ryang Offshore Wind project and development of a regional supply chain.

Jindo cluster gains government backing

Pacifico Energy Korea, the group’s local development platform, is developing three projects off Jindo County. Together, Myeong Ryang, Manho and Jindo Baram would provide about 3.2 GW of generating capacity.

According to the company, the development would rank among the Asia-Pacific region’s largest offshore wind clusters built by one developer in a single area.

Myeong Ryang, the cluster’s first phase, has secured an electricity business licence. It has also completed a preliminary environmental impact assessment.

Manho and Jindo Baram form the second and third phases. In August, they were selected as the sole developments for the Jindo Phase 2 Offshore Wind Integrated Cluster. The South Korean government has designated the cluster with a total capacity of 2.13 GW.

That status is important for investors and supply-chain participants. Integrated clusters can improve coordination between developers, government authorities, grid planners and local communities. They may also reduce some of the permitting and infrastructure risks that have delayed offshore wind projects in other markets.

Execution challenges remain. Large offshore developments require extensive transmission capacity, port infrastructure and long-term supply-chain planning. Financing must also account for construction costs, interest rates and the availability of specialised vessels and equipment.

RELATED ARTICLE: Berkshire’s PacifiCorp Faces Billions in Oregon Wildfire Damages: A Turning Point for Climate Accountability?

Clean power supports semiconductor strategy

The projects are intended to serve the Jeonnam-Gwangju region, where South Korea is developing the Honam Semiconductor Cluster. The area also has a growing concentration of advanced industries that need stable and increasingly low-carbon electricity.

Kim Jung-Kwan, South Korea’s minister of trade, industry and resources, attended the Washington ceremony. Seung-Ho Choe, global head of offshore wind and representative director of Pacifico Energy Korea, also participated.

“Pacifico Energy Korea’s offshore wind portfolio will supply clean energy to bolster Korea’s export competitiveness, while also building key infrastructure to support the semiconductor cluster and RE100-ready industrial complexes in Jeonnam-Gwangju,” said Choe.

The connection between offshore wind and industrial policy carries wider ESG implications. Manufacturers face pressure from customers and investors to reduce supply-chain emissions. Exporters must also prepare for tighter carbon-related trade requirements and renewable electricity expectations.

For corporate buyers, the Jindo projects could expand access to clean power at industrial scale. For policymakers, their progress will test whether renewable energy approvals, grid investment and regional development policy can move together.

Energy infrastructure becomes a competitive asset

Pacifico’s Korean investment follows its development of GW Ranch in the United States. The 7.65 GW data centre campus was recently acquired by Amazon and is under construction, with first power targeted for the first quarter of 2027.

GW Ranch combines natural gas turbines, solar generation and battery storage in an off-grid model. It was designed to power hyperscale data centres and artificial intelligence infrastructure without adding demand to the existing grid.

The Korean portfolio addresses a different market, but the strategic premise is similar. Access to dependable energy has become a deciding factor in where advanced industries invest.

For executives and investors, the Jindo cluster therefore extends beyond renewable capacity. It brings energy security, export competitiveness and regional economic policy into the same capital programme. Its delivery could influence how other Asia-Pacific governments align offshore wind development with industrial growth and corporate climate commitments.