The South Korean Ministry of Commerce, Industry and Energy unveiled its offshore wind power project, which will account for 12GW of the total capacity of 48.7GW proposed in the “Renewable Energy 3020 Implementation Plan.”
In order to achieve the “Renewable Energy 3020 Implementation Plan” goal, the industrialization of this alternative power is important. Through this, the sector can create jobs by activating related industries such as shipbuilding, marine, steel, and local economy.
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In addition, to promote the maritime wind power generation, South Korea will implement a mid-to-small scale offshore wind power supply, securing track records, and establishing a supply system for the wind power industry.
In the long-term, a large-scale floating offshore wind farm will be built along with next-generation technology innovation, aiming to promote overseas market and export industrialization of offshore plant.
Furthermore, to secure the economical efficiency of the offshore wind power, South Korea will remove the uncertainty caused by business delays by creating wind farms and the “post- operator development method” so that the private investment (PF) will be activated.
To achieve this, the government discussed ways to add a new renewable energy certificate (REC) for projects that were discovered and proposed by local governments.
