South Korea approves $43.2 billion plan to build 8.2 GW offshore wind farm by 2030

February 12, 2021
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Around 98% of the project will be financed by a group of energy companies that includes Korea Electric Power Corporation, SK Group, and Doosan Heavy Industries & Construction, while the remaining investment will come from the national government. The 8.2 GW farm will be deployed off the coast of Sinan, in the southwest of the country, and is poised to become one of the world's largest wind farms upon completion in 2030. This ambitious project reaffirms South Korea's ambition to become carbon neutral by 2050 – throughout this transition, clients should expect offshore wind to play a crucial role, particularly floating offshore wind, which has the potential to unlock new land for power generation on the eastern coast of South Korea. 

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