Offshore Wind opportunities in South Korea – a fast-paced move towards renewable resources.

South Korea produces 90% of the country’s electricity generated from non-renewable sources. However, South Korea is committed to change; adjusting to green power has been a political focus area, and offshore wind will be one of key drivers on the deployment of renewable energy.

The government aims for 20% of the country’s electricity consumption to come from renewable sources by 2030. This requires a significant increase in electricity generated from clean and renewable energy sources from today’s level of 6.7%.

Wind energy will be one of key drivers toward that goal, along with solar photovoltaic technologies. By the end of 2017, a total of 1,139.91 MW (560 units) in wind power plants was installed in South Korea.  According to the nation’s 2030 plan, a total of 16 GW in wind power should be installed in the next 12 years, including 13 GW in offshore installations.

Local developments and technology
As of today, Korea has a total of 38 MW in offshore wind installation. Of these 38 MW, 30 MW are from the commercial Tamra Offshore Wind Farm in the shallow water of Jeju Island, and an additional 8 MW are from offshore installations for research purposes. In terms of ongoing offshore wind farm construction, the first phase (60 MW) of the Korea South West Project is currently under construction, aiming for operation by 2019.  The second phase (400 MW) of the South West Project is expected to roll out soon.

Hand in hand with these developments, industrial players in South Korea are announcing new offshore wind farm plans.

List of planned offshore wind farms:

No Location Name of offshore wind farm Companies MW
1 Jeollabuk-do The South West – 1st Demonstration Korea Offshore Wind Power 60
2 Jeju island Hamlim Offshore Wind KEPCO, Daelim, KEPCO E&C 100
3 Jeollanam-do Jeonam Offshore Wind POSCO Energy 300
4 Jeollanam-do Jeonam Shinan Offshore Wind Hanwha E&C, Korea South-East Power 400
5 Jeju island Daejung Offshore Wind Korea Southern Power 100
(1) Jeollabuk-do The South West – 2nd Expansion Korea Offshore Wind Power 400
6 Ulsan Jangdong Offshore Wind SK E&C, KEPCO E&C 99
7 Jeollanam-do Jeonan Wando Offshore Wind Korea South-East Power, Kolon Global 200
8 Busan Haegee Chungsapo Offshore Wind G Wind Sky (Korea Southern Power) 540
9 Jeju island Jeju Dongbu Offshore Wind Jeju Energy Corp. 105
10 Jeju island Woljung Haengwon Offshore Wind Jeju Energy Corp. 125
11 Jeju island Pyosun Sehwa Offshore Wind Jeju Energy Corp. 135
12 Incheon Younghung Offshore Wind Korea South-East Power 150
13 Choongchungnam-do Ahn-Myeon-Do Offshore Wind Korea Western Power 100
14 Jeollanam-do Jeonam Ahn-Ma-Do Offshore Wind Korea Wind Industry 200
15 Kyungsangnam-do Samcheonpo Offshore Wind Korea South-East Power 60
16 Busan Gori Offshore Wind Korea Hydro & Nuclear Power 300
17 Kyungsangbuk-do Pohang Offshore Wind GS E&R 160
18 Jeollabuk-do Saemangeum Offshore Wind Saemangeum Offshore Power 99.2
SUM 3633.2

Where Norwegian companies can compete
The focus on wind offers vast opportunities for Norwegian businesses, especially as South Korea has continually expressed their intention to harness wind power offshore. Since the Korean offshore wind industry is still in the early stage, Norwegian offshore technology and experience will be very helpful to narrow the knowledge gap in developing offshore wind technologies. Norwegian companies are at a particular advantage as they utilize the knowledge and experience from offshore oilfield and maritime operations for future offshore wind power development.

Some Norwegian companies entered the South Korean market appointing their Korean partners or representatives and also there was a Norwegian company’s contract for Saemangeum Offshore Wind Project last year.

Innovation Norway’s office in Seoul is committed to supporting Norwegian businesses that wish to expand into South Korea. Last year, Clean Energy Seminar focused on offshore wind foundations was hosted by Innovation Norway Seoul in cooperation with DNV GL. This year, Innovation Norway Seoul in cooperation with Korea Wind Energy Industry Association hosts Global Wind Day Seoul where wind energy is celebrated and information is exchanged among players on June 22. Invited Norwegian speakers will present their technology and experience during Norwegian session toward Korean participants as well as will meet Korean companies for the business development.

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