Jeonnam 2 Offshore Wind Farm (CIP/SK)

Located off Shinan County, Jeonnam. Adjacent to Jeonnam 1.

Status

Early Developmentlifecycle stage

ProspectiveHafrok completion outlook

Ownership

SESK E&S — 51% ◇

CIP — 49% ◇

Location

South Korea

Yellow Sea

Verification

0/9 fields verified

8 sources · ◆ 2 documents held

≈modelled◇sourced○unverified·derived

open the source register →

Technology

Capacity 399 MW ◇

Turbines —

Foundation —

Site & conditions

Site rights Application filed ○ Water depth 6–25 m ≈ Wind speed 7.9 m/s @ 150 m ≈

Revenue & grid

Offtake —

Grid —

Schedule

FID Not taken

COD · announced 2031 ◇

COD · Hafrok 2034 expected

Delivery outlook modelled by Hafrok · calibrated on delivered projects

2034

expected year of commercial operation

The developer says 2031; Hafrok expects 2034 — 3 years later.

Chance of delivery

≈60% estimated chance this project reaches commercial operation

Early Development projects complete ≈61% of the time on Hafrok's record. A secured offtake contract lifts this one slightly; a market with a thinner delivery record and technical complexity pull a little the other way.

COD outlook

If it completes, when — Hafrok’s probability by year (teal)

COD probability by year, conditional on completion
Year	Probability
2033	14.1%
2034 (expected)	28.0%
2035	22.7%
2036	14.6%
2037	8.7%
2038	5.1%
2039	3.1%
2040	1.8%
2041	1.1%
2042	0.7%

How Hafrok got this date

No dated milestone yet

Nothing is consented or financed with a date, so the estimate starts from today (2026), adds the time similar projects (in developing offshore-wind markets) took from consent to operation, plus an allowance for obtaining consent.

Earliest credible date

Typical consent-to-operation time plus allowances means commercial operation before 2034 is not credible.

Still needs an offtake award: KR-OFFSHORE-2026H2

The project has no offtake contract yet. The next visible auction is around 2026 Q4; winners typically reach final investment decision about 2 years after an award (2028 Q4), then build time on top gives 2031 Q4. The milestone timing is already later than that, so it stands.

Result

Expected commercial operation 2034, likely range 2034–2039 (the middle half of outcomes for similar projects). With no milestone to build from, the earliest credible date is the estimate, with a deliberately wide range.

Year-by-year chart

The bars spread that estimate across years using how similar projects actually slipped against their dates — more often late than early, which is why the bars lean right.

Chance of delivery — separate from timing

Start from the share of Early Development projects that went on to complete — ≈61%, measured on Hafrok's record of delivered and abandoned projects, with an allowance held back where that record cannot yet speak (projects still unresolved, changed market conditions). About three in four early-stage projects with a final outcome went on to operate — a record from an easier era. Most of today's early pipeline is still unresolved, so the estimate discounts it. Then adjust for this project's own evidence — offtake, market, size, technical complexity — to ≈60%, which rates it Prospective on Hafrok's four-step delivery scale (Delivering · Expected · Prospective · Fragile).

Project timeline & ownership verified milestones on the spine · ownership from Hafrok’s transactions record

Dashed tick marks today (9 Sep 2026). The ▲ below the spine is the developer-announced COD. Ownership lives in the band below: one station per recorded deal, dated at its label, in deal order rather than to calendar scale. Secondary trades appear only at the interchanges; grey lines are parties whose entry or exit Hafrok’s record does not hold.

Revenue & offtake route to market — open

No offtake secured — route to market open

The routes describe what exists in this market — not a prediction of which the project will take. Timing math for the auction gate lives in the delivery outlook above.

Next visible round · from the auction calendar

South Korea 2026 H2 Offshore Wind Auction ◇

expected H2 2026 · planned · the round’s published documents do not name this project

MCEE's ten-year roadmap (2026-06-30) schedules 1.7-3.0 GW for 2026 H2 — fixed 1.3-2.0 GW, floating 0.4-1.0 GW. No 공고 date published as of 2026-08-26; the ministry began collecting military-operability consultation requests for H2 bidders from April 2026.

Installation how the build is going · from satellite counts and Hafrok’s registers

Installation not started

nothing to count yet: the satellite tracker begins when offshore construction does

Installation · on record

StageEarly Development

Offshore constructionnot started

Expected start of operation2031

Sources & verification

0/9 fields verified · rests on 8 sources · ◆ 2 documents held

◆Verified≈Modelled◇Sourced∴Inferred⌁Convention○Unverified∅No source·Derived

Numbers are stable citation ids — grouped by source class, so they are not consecutive.

Auction pipeline1

[9]

기후에너지환경부 (MCEE), via 대한민국 정책브리핑 (korea.kr)2026-06-30◆ kr-mcee-roadmap-2026

Roadmap table, 2026 H2 column: 경쟁입찰 물량 1.7~3.0 GW (고정식 1.3~2.0, 부유식 0.4~1.0). "RPS 제도 일몰('27.1.1.)에 따라 '27년 이후 입찰에 대한 세부 운영 방식 및 선정 프로세스 구체화 필요 ('26년 하반기 중)."

supportsSouth Korea 2026 H2 Offshore Wind Auction

source ↗

Trade press6

[2]

SK Innovation News (SK Innovation E&S)2025-05

“SK Innovation E&S, in collaboration with CIP, plans to construct Jeonnam Offshore Wind Farm 2 (399MW) and Jeonnam Offshore Wind Farm 3 (399MW), with completion targeted for 2031.”

supportsCommercial operationTotal capacity

source ↗

[4]

Informed Infrastructure2025

supportsoperatordeveloper

source ↗

[5]

GEM2026

supportsTotal capacity

source ↗

[6]

4C Offshore2026