Lahmeyer International, a Germany engineering company based in Bad Vilbel, says it will soon choose the turbine supplier for a 100 MW wind farm going up in South Korea. "Negotiations are underway with two Danish firms," says Lahmeyer's Rüdiger Kipke. A third contender, GE Wind Energy, dropped out of the running in June. Together with Korean corporation Unison Industrial of Seoul, Lahmeyer is developing a 66 turbine wind plant at Daegwalleyeong in Gangwon province with a generating capacity of 95-100 MW. The first 24 turbines will be installed in October with commissioning planned for the end of 2003. The other 42 machines will be commissioned a year later. Lahmeyer and Unison formed a joint venture, the Gangwon Wind Park Project company (Gawip), in anticipation of the country's new renewable energy law, passed in June, setting a fixed rate for wind power of KRW 107.5/kWh ($0.091/kWh) for five years, after which the rate will be adjusted. "There is an informal understanding that the new rate will be set so that projects can continue to operate economically," says Lahmeyer's Andreas Wiese. The Daegwalleyeong project is expected to cost EUR 105-120 million, with 55% coming from Unison, while the remaining 45% will come from an, as yet unnamed, international investor. Under the financing agreement Lahmeyer International will reduce its 20% stake in Gawip to 5%. South Korea has about 10 MW of operating wind power to date, mainly made up of turbines from NEG Micon and Vestas
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