The South Korean authorities have announced a plan to create a floating 6 GW floating offshore wind plant off the coast of Ulsan by 2030. The project, which will be developed under a public private partnership, requires an investment of KRW36,000bn (US$32bn). The power plant is expected to produce 84,000 t/year of clean hydrogen.
Earlier in May 2021, Korea National Oil Corporation (KNOC) completed a preliminary feasibility study for the 200 MW Donghae-1 floating offshore wind project located off the south-eastern port of Ulsan in South Korea. Construction is expected to start in 2022 and the project could be commissioned in 2026.
Wind accounts for 1% of South Korea’s installed capacity, with 1.65 GW in 2020. More than 16 GW of wind projects are in various phases of development. The country intends to reach a wind power capacity of 16.5 GW by 2030.