The government of South Korea is planning is to set up a private-public partnership (PPP) to install about 500 turbines off the country’s West coast.
Under the partnership, the country plans to install 100 MW of wind projects by 2013 and another 900 MW of Offshore Wind Capacity is planned by 2016 and the final 1.5 GW by 2016. In addition, local governments are promoting another 4.5 GW of offshore wind projects across the country.
Also according to GWEC, the Korean wind power industry has an aggressive target of reaching 23 GW of wind power by 2030, which would supply around 10% of the country’s total energy demand.
SK Engineering & Construction Co. had recently announced plans to build South Korea’s largest offshore wind farm with an initial investment of 800 billion won or $726 million. The Wind is expected to be operational by 2017.
