South Korea plans massive off-shore wind farm

South Korea is going for an ambitious off-shore wind farm amounting to US$8.3 billion. According to the Ministry of Knowledge Economy or MKE this project will erect 500 wind turbines in the West Sea off the Jeolla province in ten years.

These turbines are foreseen to produce 2,500 megawatts of energy a year. This amount of electricity will be sufficient for 3.5 million Busan residents for a full month. MKE director general Kang Nam-hoon says, “Basically, the scheme is composed of three phases. By 2013, we will have raised 20 5-megawatt turbines and add 180 by 2016 and 300 more by 2019.”

But MKE is not providing all the funds. They are hoping for the private companies to pool in their own money to complete the requirement of the US$ 8.3 billion. The MKE will fund just the 0.3 per cent of the overall cost of the project. In fact they are financing the research and development of specific technologies. This can cast a shadow on the execution of the project.

South Korean companies such as Hyundai Heavy Industries, Samsung Heavy Industries, Doosan Heavy Industries & Construction, and Hyosung Corp. are taking keen interest in the production of wind turbines.

South Korea Wind Farm Wind energy currently meets a mere 1.5 per cent of global electricity generation.