The South Korean government has unveiled plans for the development of the Saemangeum Renewable Energy Project, which will be built alongside the existing Saemangeum Seawall dyke in the North Jeolla Province (South Korea). The project will entail 4,000 MW of power generation capacity, of which 2,800 MW for solar power generation facilities, 1,000 MW of floating wind capacity (outside the seawall), 100 MW of onshore wind power and 100 MW of fuel cell power generation units.
It will be overseen by the Saemangeum Development and Investment Agency (SDIA) and KRW10,000bn (US$8.8bn) will be spent in the project; the way the funds will be allocated remains unclear so far. According the the government, the whole project could be commissioned by 2022.
The Saemangeum Seawall is located on the southwest coast of the Korean peninsula and is a 33 km long man-made dyke separating the Yellow Sea and the former Saemangeum estuarine tidal flat. According to the SDIA, the amount of sunlight the region receives a day is 3.61 kWh per m², which exceeds the South Korean average. However, the project is already controversial as the utilization rate is slated to be low, at 3.61 hours a day.
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