South Korea has signed a deal to build what the South Korean government said will be the world’s biggest offshore wind power complex.
President Moon Jae-in oversaw the signing of the 48 trillion won ($43 billion) agreement to build the power generation complex off Sinan in the country’s southwest, which he said would be seven times bigger than the world’s current largest offshore wind farm. The agreement involves 33 different entities, among them regional governments, the electricity generator KEPCO, and major private firms including Doosan Heavy Industries & Construction and SK E&S.
With a maximum capacity of 8.2 gigawatts, the government is banking on it being the equivalent of six nuclear power stations. “We have the infinite potential of offshore wind power to the sea on three sides, and we have the world’s best technology in related fields,” he added.
South Korea also plans to cut its existing nuclear power plants from 24 to 17 by 2034, reducing the sector’s energy output by nearly half.
This $43 billion deal is a part of the country’s mission to reduce carbon emissions and move towards cleaner methods of power generation. Currently South Korea has few energy resources of its own and relies on imported coal a cheap but dirty fuel for around 40 percent of its electricity.