South Korea has announced that it intends to increase its offshore wind power capacity to 12 GW by 2030. The Ministry of Trade, Industry and Energy said the country is on track to reach the target by 2030, with several projects pending. It also aims to reach 30-35 per cent of renewables in its energy mix by 2040, equivalent to 130 GW of renewable energy. South Korea’s current renewable energy capacity is around 11.3 GW.
To assist with this aim, Doosan Heavy Industries & Construction said that it plans to see its offshore wind power business generate around $830 million in annual revenue by 2025. Park Gee-won, CEO of Doosan Heavy Industries & Construction, said the company would contribute to developing offshore wind turbines as a leading company in the field and pledged to be actively involved in supporting the government’s Green New Deal. He said: “The domestic market is expected to grow rapidly thanks to government measures for developing offshore wind energy.”
Doosan Heavy Industries & Construction began research into offshore wind power technology in 2005. It is currently the only South Korean company that can solely manufacture offshore wind power generators. It has supplied 79 offshore wind turbines across the country.