January 9 (SeeNews) - South Korea’s Saemangeum Development and Investment Agency (SDIA) on Friday announced plans for a 96.8-MW offshore wind park at the Saemangeum estuarine tidal flat on the coast of the Yellow Sea.
SDIA said it has entered into a memorandum of understanding (MoU) for the project with Saemangeum Offshore Wind Power, a special purpose vehicle held by KEPCO KPS and Mirae Asset. Other partners include Korea Rural Community Corporation, Kunsan National University and Jeonbuk Techno Park.
As part of the KRW-440-billion (USD 365m/EUR 347m) project, the parties will erect 24 units of 3.5-MW turbines plus four 3.2-MW machines. Together they are expected to generate enough electricity to power around 62,000 local homes a year.
SDIA anticipates to begin work on the scheme this April and to have the wind park completed in the second half of 2018.
The project has been promoted since 2009, with the initial plans envisaging the installation of 35 turbines.
(KRW 1,000 = USD 0.829/EUR 0.788)