Plans for the world’s largest wind farm – an 8.2GW project off South Korea’s south-west coast – have been revealed.
Requiring an investment of KRW 48 trillion ($43 billion), it could power all of the households in Seoul and Incheon – home to nearly 13 million people combined – and create 120,000 jobs. Large-scale manufacturing facilities would be built in Yeongam and Sinan, in order to supply the development.
At a signing ceremony, President Moon Jae-in said that the government would fast-track the 8200MW Shinan Shinan (8200MW) Offshoreoff Sinan-gun, Jeollanam-do, South Korea, Asia-Pacific Click to see full details project, supporting the permitting process and shortening its development phase.
South Korea aims to become one of the top five countries for offshore wind deployment by 2030, with a 16.5GW goal, Moon said.
News wire Reuters reported that utilities and engineering companies were also present, including Korea Electric Power Corp, SK E&S, Hanwha Engineering & Construction, Doosan Heavy Industries & Construction, CS Wind and Samkang M&T. They would provide KW 47.6 trillion of the required funding, with the government supplying the remaining KRW 900 billion.
It is unclear whether the project will be built in one or more stages and how many turbines will be installed. A construction and commissioning timetable is also lacking, at this stage.
More to follow.