Vestas Secures 43 MW Renewable Energy Deal in South Korea, Strengthens Asia-Pacific Portfolio

2026-01-04 15:10:57

Vestas Wind Systems A/S has closed a significant wind power contract with DaeMyoung Energy Co., Ltd. (389260), marking another expansion of the company’s footprint in Asia’s clean energy sector. The agreement encompasses the Gokseong Green Wind Power Project, which will be equipped with seven V162-6.2 MW turbines generating a combined capacity of 43 MW.

Project Timeline and Service Commitment

The renewable energy initiative is scheduled to reach equipment delivery in 2027, with commercial operations commencing the following year in 2028. Beyond the hardware supply, Vestas Asia Pacific has secured a comprehensive 20-year AOM5000 service agreement, ensuring long-term operational support for the wind facility. This service component reflects the company’s commitment to maximizing asset performance throughout the project lifecycle.

Market Positioning

The transaction reinforces Vestas’ competitive standing within the APAC region’s expanding renewable energy market. As part of the company’s Q4 order intake, this deal demonstrates sustained demand for large-scale wind generation solutions across East Asia. DaeMyoung Energy’s investment underscores South Korea’s continued momentum in transitioning toward sustainable power infrastructure.

Stock Performance

Following the announcement, Vestas Wind Systems shares demonstrated upward movement, trading 1.67% higher at DKK 173.75 on the Copenhagen Stock Exchange. Concurrently, DaeMyoung Energy (389260) shares on the Kosdaq Stock Exchange showed a 2.36% decline, closing at KRW 19,000, reflecting typical post-announcement trading volatility.

The order signals continued corporate investment in renewable capacity as regional markets prioritize decarbonization objectives.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.