OSLO, Nov 30 (Reuters) - Denmark's Orsted (ORSTED.CO) said on Thursday it has been granted a 1.6 gigawatt (GW) electricity business licence (EBL) in South Korea for an offshore wind project located 70 km (43 miles) off the coast of Incheon City.

Subject to a final investment decision, the project is expected to be South Korea's largest offshore wind project when completed in the early 2030s, Orsted said.

The project will support Incheon's net-zero carbon emissions goal with a capacity to provide renewable energy to over a million households while reducing the emissions by some 4 million tonnes annually, the company said in a statement.

Before development can take place, Orsted must complete environmental impact assessments, site investigations, and preparations for participating in South Korea's annual fixed-price wind auction, it added.

https://www.reuters.com/business/energy/orsted-wins-licence-south-korea-offshore-wind-project-2023-11-30/