South Korea reaffirms offshore wind goals

In: Windfarms
South Korean President Moon Jae-in has reaffirmed the country's offshore wind aspirations of 12 GW by 2030. The news comes on the back of the President Moon Jae-in unveiling its Green Deal which aims to move the country away from fossil fuels and toward sustainable renewable energy.

The southwestern region of Jeollabuk-do will be an area of particular focus of offshore wind development with around 14 trillion won to be invested into project development in the region. President Moon Jae-in aims to support the installation of 2.4 GW by 2028 in this region.

The Ministry of Trade, Industry and Energy said it will first carry out studies by building offshore wind power facilities with a combined capacity of 400 MW before beginning full-fledged construction in 2023. When completed, the wind farms are expected to be able to supply power to some 2.24 million households.

South Korea currently around has around 100 MW of offshore wind in operation, well below the 12 GW target. Around 7 GW of projects due to enter construction before the end of the decade, but there is mounting interest in floating wind off the south coast where wind resources are stronger.

Jeonnam Development Council is planning to auction up to two areas around Sinan for ~2 GW of floating wind development in 2021. Ulsan has also been vying to become a floating wind farm hub.

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