South Korea unveils 6 GW floating wind plans

By: Tom Russell 07/05/2021 South Korea's President Moon Jae-in

General Windfarms

South Korea's President Moon Jae-in has announced plans to invest up to KRW 36 trillion for the establishment of 6 GW of offshore wind energy off the coast of Ulsan.

It is expected that 210,000 jobs would be created in an effort to get the project operational by the end of 2030. Furthermore, it is intended that the project be used to support hydrogen production. Approximately 20% of the project's power could deliver 84,000 tonnes of hydrogen.

The site would be used to meet the electricity demands of around 5.76 million households, reducing 9.3 million tons of carbon dioxide per year.

As a currently coal reliant nation, South Korea is aiming for carbon neutrality by 2050 under its 'Green Deal', which was introduced in July 2020. This means targeting 60 GW of renewables, including 12 GW of offshore wind, by 2030.

As the first-stage of the project, the South Korean Government will invest more than KRW 1.4 trillion in construction of floating offshore wind turbine in Ulsan by 2025.

Currently, South Korea has 98 MW installed. Appetite is high for both fixed and floating installations although South Korea will need to overcome a number of obstacles such as infrastructure upgrades and conflicts with the fishing industry in order to meet its targets.

For more information on floating offshore wind farms worldwide, click here.

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