Northland Power has signed an agreement to acquire Dado Ocean Wind Farm (Dado Ocean), a development company with multiple early stage offshore wind development sites near Chodo Island, off the south coast of South Korea.
Dado Ocean is currently owned by Mr. Eui Jeong Hwang, an experienced wind power developer who will continue to support the project as a local partner, working together with Northland to achieve key milestones for the project. The acquisition is expected to close in the coming weeks, subject to customary closing conditions. The current projects, which are in early stage development, include multiple development sites located in Chodo-ri and Sonjuk-ri of Yeosu City, 35km off the southern coast of the Korean Peninsula, and together these projects will be developed over the coming years.
