Total Eren has started construction of its first wind farm in South Korea alongside partners WEEN E&S and Korea Midland Power.
The French developer also confirmed financial close for the 16.7MW Parang Project, with the partnership securing around $44.5m in long-term financing from a local private equity fund specialised in lending to and investing in onshore wind projects in Korea.
An EPC contract has been signed with Korean construction company Kolon Global while Enercon will supply three E160 model turbines.
Commercial operation of the wind farm is expected in early 2024.
Total Eren executive vice-president and head of business development Fabienne Demol said: “We are very pleased to develop our activities in South Korea through the start of construction of the Parang Project and the development of a broader portfolio of renewable energy projects.
“The Korean market is particularly promising, with an ever-increasing share dedicated to renewable energy, the core of our expertise.
“Through the Parang Project, Total Eren is committed to providing electricity which is low-carbon and competitive to the Korean people.”
Korean developer WEEN holds a 5% stake in the project, while Korea Midland Power, a subsidiary of state-owned utility Korea Electric Power Corporation, has a 25% share.
TotalEnergies is a participating shareholder in Total Eren.
