South Korea to Build $8.2bn Offshore Wind Power Project

2 November 2010 (Last Updated November 2nd, 2010 18:30)

South Korea is to build its largest offshore wind project in the Yellow Sea with an investment of 9.2tn won ($8.2bn) to generate 2,500MW. The three-phase project is expected to help the country harness renewable energy and cut dependence on fossil fuels, according to Yonhap News Agency.

South Korea is to build its largest offshore wind project in the Yellow Sea with an investment of 9.2tn won ($8.2bn) to generate 2,500MW.

The three-phase project is expected to help the country harness renewable energy and cut dependence on fossil fuels, according to Yonhap News Agency.

South Korea will build a "proving area" by 2013 off the coast of southwestern Buan and Yeonggwang counties to test 20 5MW turbines.

The country will install 180 5MW turbines by 2016 and 300 5MW turbines by 2019.

The Ministry of Knowledge Economy's energy and climate change policy head Kang Nam-hoon said the project aimed to make South Korea the world's third-largest nation in the offshore wind power generation.

"To be able to export related equipment and technology, we need a good track record of actually building and operating such facilities," he said.