Crédit Agricole CIB hosts first-ever renewable energy seminar in Korea

For the first time, the Bank hosted a dedicated renewable energy event in Korea for its clients, bringing together over 60 industry leaders, experts, investors and innovators on 3 September in Seoul. They explored topics ranging from macroeconomic conditions to renewable trends and Korea’s liquidity and financing landscape, through keynotes featuring Crédit Agricole CIB’s global and regional experts, and professionals from the Crédit Agricole Group’s local asset management joint-venture NH Amundi and a local Export Credit Agency (ECA). 

The world is experiencing a record expansion of renewable capacity, with 585 gigawatts (GW) installed in 2024 – 15% increase in the stock of renewable power. While the growth of renewable energy is accelerating, even greater efforts are needed to achieve carbon neutrality by 2050. 

The Republic of Korea is exactly demonstrating the growth, with the government setting ambitious national targets to expand the share of renewables in its energy mix from 23 to 72 GW over the 2022-30 period. In particular, the country has established one of Asia’s most aggressive offshore wind goals, aiming for a 14.3GW-capacity by 2030 – significantly higher than previous targets and a major driver of Korea’s clean energy transition. To attract investments, the government has implemented supportive policies backed by robust legal framework, strong AA- sovereign rating, deep local supply chain, multiple financing channels and ample liquidity, creating an attractive and de-risked environment for international lenders and sponsors. 

With its experience in 830 power and utility projects across 56 countries, as well as its local presence for more than half a century, Crédit Agricole CIB is well-positioned to support Korea’s low-carbon transition goals. The Bank participated in the country’s first commercial-scale offshore wind farm with a non-recourse project financing structure, serving as co-financial advisor and mandated lead arranger. It is also actively engaged in other offshore wind projects in Korea as financial advisor or mandated lead arranger, further expanding its leadership in the Asia region.