Woori Investment Securities said on Feb. 27 it will support what it called “productive finance” by helping secure installation and transport vessels for substructures, a core infrastructure element for a 50 billion won domestic offshore wind power plant.

Woori Investment Securities successfully completed the lead role for the acquisition of the offshore wind installation vessel Nuri Baram, a project promoted by KOSDAQ-listed Woori Technology and offshore wind specialist CGO.

Nuri Baram is expected to be deployed on major domestic offshore wind projects, starting with the Sinan Ui offshore wind power project, which was selected as the first project under the National Growth Fund.

The Sinan Ui offshore wind power project involves building and operating a large offshore wind farm with generating capacity of 390 MW in waters south of Uido, Sinan county, South Jeolla province. It is the first large offshore wind project to be pursued with purely domestic capital to expand essential power infrastructure for local advanced strategic industries.

The deal is Woori Investment Securities' first venture capital lead-arranger case. The firm participated as sole lead arranger, designed the financing structure and formed a lender group to secure stable funding.

A Woori Investment Securities official said the financing was the first result of the company fully stepping into its role as a “venture capital provider”. The official said it will continue to expand investment in advanced strategic industries to promote a shift to productive finance and establish itself as a key player in the venture capital investment market by boosting the real economy.