Hana Bank said on Feb. 27 it signed a business agreement with Korea South-East Power on Feb. 26 to advance the Wando Geumil offshore wind project to build a 600-megawatt offshore wind farm off Geumil-eup in Wando County, South Jeolla Province.

The agreement was arranged to carry out a project to build eco-friendly energy infrastructure. The two sides agreed to review the project structure and risk factors from before the project-financing stage and seek ways to cooperate across all stages, including development, construction and operations.

The Wando Geumil offshore wind power project is an offshore wind project 추진 at a scale of 600 megawatts. Key licensing procedures are under way, and power produced at the wind farm is expected to be used by electricity demand sites such as AI data centres.

Hana Bank plans to review the role and potential investment participation of private financial firms related to offshore wind power projects and analyse ways to secure stability in the funding structure.

It also plans to 추진 a financial support model that participates in the entire process, including feasibility review, structure design and financial arrangement.

Hana Bank and Korea South-East Power agreed to expand cooperation in renewable energy and eco-friendly infrastructure fields through the project.

Lee Byung-sik (이병식), a deputy head of Hana Bank's IB Group, said the agreement would serve as a momentum to set up a structure for financial participation in 추진 of building the offshore wind power complex. He said the bank would continue to actively pursue productive finance so that finance can play a more leading role in areas of the real economy such as renewable energy.