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November 26, 2021

Donghae TwinWind Offshore Wind Farm, South Korea

By Carmen

Donghae TwinWind Offshore Wind Farm is a 1,400MW offshore wind power project. It is planned in Sea of Japan, Ulsan, South Korea. The project is currently in announced stage. It will be developed in multiple phases. Post completion of the construction, the project is expected to get commissioned in 2026.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Project Type Total Capacity (MW) Active Capacity (MW) Pipeline Capacity (MW) Project Status Project Location Project Developer
Offshore 1,400 1,400 Announced Ulsan, South Korea Munmu Baram

Description

The project is being developed by Munmu Baram. Royal Dutch Shell and CoensHexicon are currently owning the project having ownership stake of 80% and 20% respectively.

The project is expected to generate 4,650,000MWh of electricity. The project cost is expected to be around $7,000m. The turbines will be mounted on a floating type foundation.

Donghae TwinWind Offshore Wind Farm (Donghae TwinWind Offshore Wind Farm Phase I) consists of 20 turbines with 10MW nameplate capacity.

Development Status

Post completion of the construction, the project is expected to get commissioned in 2026.

About Munmu Baram

Munmu Baram Co Ltd (Munmu Baram) transmits, distributes and supplies electricity through hydro projects. The company is headquartered in South Korea.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.

Related Companies

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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