Yeonggwang Nakwol Offshore Wind Power is a 364.8MW offshore wind power project. It is planned in Yellow Sea, South Jeolla, South Korea. According to GlobalData, who tracks and profiles over 170,000 power plants worldwide, the project is currently at the permitting stage. It will be developed in a single phase. The project construction is likely to commence in 2024 and is expected to enter into commercial operation in December 2025. Buy the profile here.
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Description
The project is being developed by Myungwoon Industrial Development. Myungwoon Industrial Development and Others are currently owning the project having ownership stake of 71.8% and 28.2% respectively.
The project is expected to generate 800,000MWh of electricity.
The wind power project consists of 64 turbines, each with 5.7MW nameplate capacity.
Development status
The project construction is expected to commence from 2024. Subsequent to that it will enter into commercial operation by December 2025.
Power purchase agreement
The power generated from the project will be sold to Korea Southern Power under a power purchase agreement. The power will be sold at the rate of $0.229kWh for a period of 20 years.
For more details on Yeonggwang Nakwol Offshore Wind Power, buy the profile here.
About Myungwoon Industrial Development
Myungwoon Industrial Development Co Ltd (Myungwoon Industrial) is a power generation company specializes in power and electricity generation, transmission, supplying, production, and distribution services. The company is headquartered in South Korea.
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