South Korea to complete plans for USD-7.76bn offshore wind farm - report
(ADPnews) - Sep 20, 2010 - South Korea is nearing the testing stage of its first big offshore wind farm project of 1 GW, worth some KRW 9 trillion (USD 7.76bn/EUR 5.95bn), news site Recharge writes, citing unnamed government official.
According to an official from the Ministry of Knowledge Economy, the government will release the project roadmap in October.
The initial construction phase of the wind farm, to be located in the Yellow Sea, includes the installation of 20 test turbines by 2013, while the test-bed project will require 200 wind generators with 5 MW capacity. South Korea's plan is to install 1,000 more turbines by 2019.
The project is part of a government plan to raise the share of green energy to over 20% of the overall energy mix by 2020, from only 1% at present. Currently, most of the power in the country is being generated by fossil fuel power plants, while 14% comes from nuclear energy.