On Tuesday (March 8th), Jeollanamdo signed a joint venture agreement with Danish offshore wind power company Vestas and CS Wind a Korean company.
The ceremony was hosted by the Danish ambassador to Korea, Einar H. Jensen in the Danish embassy in Seoul. The agreement was signed by Jeollanamdo’s Governor Kim Yung-rok and Vestas president and CEO Henrik Andersen as well as CS Wind chairman Kim Sung-kwon.
The agreement is the next step in Jeollanamdo’s ambitious plan to establish the world’s largest offshore wind farm at the size of 8.2 GW. Through the joint venture, Vestas and CS-Wind plan to establish competitive production facilities for assembling wind towers, blades and turbines in Jeollanamdo.
Further information on Jeollanamdo’s 8.2 GW wind farm can be found here.
Kim Yung-rok, governor of South Korea’s province Jeollanamdo and Jesper Frost Rasmussen, mayor of Esbjerg Commune in the Kingdom of Denmark signed a MoU on Wednesday (30.06.2021) morning.
Through the memorandum both parties promise closer cooperation in the fields of renewable energy to fight climate change together. They plan to achieve this by exchanging information and experience as well as exploring possibilities for joint commercial projects and partnerships.
The main focus of this new cooperation will be on offshore wind energy. Just earlier this year, Jeollanamdo has announced to build a 8.2 GW wind farm at the coast of Sinan county. It will become the largest wind farm in the world. Jeollanamdo and Esbjerg are ideal partners, as Esbjerg is one of the world’s leading ports in providing infrastructure for off shore wind parks in the North Sea of Europe.
Due to the Covid-19 pandemic the signing ceremony was held online. The MoU will have a duration of three years but can be expended.
During a business forum in Madrid, Spain, with Spanish Prime Minister Pedro Sanchez, South Korea’s President Moon Jae In proposed a closer partnership between the two countries in order to tackle climate change in a combined effort.
Shortly after the meeting two Spanish firms revealed their plans to invest a combined sum of $ 200 m in the renewable energy business in South Korea. While the Madrid based company Ocean Winds will make an initial investment of $ 100 m to establish an offshore wind power plant in Incheon, EDPR will invest an additional $ 100 m in a solar power farm in Goheung, Jeollanamdo.
This investment is another big step in Jeollanamdo’s blue economy plan to become a center of Korea’s renewable energy industry. Just earlier this year, President Moon unveiled plans for the world’s biggest wind farm just west of the coast of Mokpo (Read more here).
In April 2019 South Koreas biggest wind farm opened in Yeonggwang, Jeollanamdo. It was constructed by Korea East-West Power Co., a subsidiary of KEPCO, the state-run power utility corporation.
It is South Koreas largest 140-megawatt (MW) wind farm and capable of producing 260,000 megawatt-hour electricity annually. The wind farm can supply about 72,000 households, and in terms of reducing carbon dioxide emissions, it is expected to reduce about 111,000 tons of carbon dioxide emissions.
The wind farm was completed in three stages. The first two facilities were completed in 2014 and 2015 with 20 MW and 40 MW capacity, and in 2019 in the third stage, the last facility with 79.6 MW capacity was completed, making it a wind farm with about 140 MW in total.
To build the complex 409.7 billion won were spent. The complex will be overseen by 45 locally-hired employees and it houses 66 wind power turbines from local companies.
The complex is also special, since it is the first wind farm, where farmers can use the land between the wind turbines to grow crops or vegetables or use the space for other purposes.