OEG Energy Group Limited (“OEG”, the “Group”), a leading energy solutions business, is pleased to announce the signing of a Memorandum of Understanding (“MoU”) between OEG Renewables and COENS Co., Ltd (“COENS”) in relation to the provision of pre-construction, construction, installation, and operations and maintenance (“O&M”) services to offshore wind projects in South Korea.
The partnership between OEG and COENS combines OEG’s experience in delivering offshore energy solutions and COENS’ extensive in-country capabilities and resources to target the South Korean offshore wind market which is experiencing positive market drivers and significant growth potential. The Jeonnam 1 offshore wind project represents the country’s first commercial-scale offshore wind farm and is currently under construction, with the project expected to complete in early 2025. South Korea is rapidly expanding its offshore wind capacity, with a goal of 14GW installed by 2030.
OEG has successfully positioned itself as a strategic partner for offshore wind farm developers in Taiwan and in other key global markets, leveraging its expanded range of specialist services to deliver excellence for its clients. In Taiwan, OEG’s renewables business has provided integrated service solutions to all the major offshore wind developments, supporting their construction and O&M programs.
COENS is an integrated services provider headquartered in Busan, South Korea, exclusively engaged in key industry sectors. Established since 2001, COENS has over 20 years of experience in managing and executing workforce solutions and other technical services for international projects, placing them as a top integrated services provider in South Korea.
In all its global locations OEG has demonstrated a strong commitment to foster local teams and resources which provides deeper alignment and engagement with our clients and local communities and supports the advancement of the energy transition.
David Carr, Chief Commercial Officer at OEG and Y.C. Kim, CEO at COENS signed the MoU in the Netherlands in OEG’s regional office on 13th January 2025 at a signing ceremony attended by representatives from both companies.
Kevin Wu, Regional Director (OEG Renewables) APAC said: “By partnering with COENS, we are able to further develop and strengthen our presence in the APAC region, expanding our existing service offering to the Taiwanese and Japanese offshore renewables markets with the addition of South Korea as a new market for OEG.”
Y.C. Kim (COENS) said: “COENS will leverage its 20+ years of experience and expertise in South Korea to create new value in the country’s offshore wind market in collaboration with OEG’s global expertise. This partnership represents a significant steppingstone for the success of both domestic and international projects. In particular, this collaboration with OEG will enhance our ability to deliver superior services and strengthen our position in South Korea’s offshore wind market.”
About OEG
OEG is a trusted partner in mission-critical services and solutions supporting the energy transition. A focus on creating value and continuously improving expertise are key to our growing business success. We help the global energy industry advance with a versatile approach and a commitment to delivery. With the largest global fleet of reusable offshore cargo carrying units and operations in over 60 worldwide locations, we offer the best of size and scale, tailored to meet customers’ local needs. Our cargo carrying units ensure the safe and reliable delivery of equipment, food, and fundamental supplies to and from offshore energy operations, 365 days per year. Our Renewables business provides critical high-value services for the development, construction and maintenance of offshore wind farms and other marine energy businesses. OEG’s heritage dates back more than 50 years and the Group employs approximately 1,100 skilled personnel.
Contacts
Media Relations: Kathryn Watts, Communications Manager
E: kathryn.watts@oeg.group
