South Korea to build $43bn offshore wind farm

South Korea has announced a $43bn plan to develop the world’s largest offshore wind farm by 2030 as part of its efforts to achieve carbon neutrality by 2050.

The project, which was announced by South Korean president Moon Jae-In, includes the construction of a wind farm off Sinan on the country’s southwestern coast. It is expected to have a maximum capacity of 8.2 gw.

The wind farm is expected to boost the country’s wind power capacity to 16.5 gw by 2030. Companies including Kepco, SK E&S, and Hanwha E&C, Doosan Heavy Industries, CS Wind, and Samgang M&T have been selected to support project.

President Moon said the project will accelerate the country’s efforts toward an eco-friendly energy transition and help it move more vigorously toward carbon neutrality. South Korea’s Green New Deal policy was launched last year to reduce reliance on fossil fuels with a target to achieve carbon neutral by 2050.

To date, the world’s largest offshore wind farm is the Hornsea wind farm developed by Danish energy company Ørsted off Britain. The phase one of the wind farm has a capacity of 1.2 gw and it is planned to have a total capacity of up to 6 gw.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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