South Korea plans world’s largest floating solar plant in Yellow Sea

SEOUL -

The Saemangeum Investment Agency of Korea (SDIA) together with Amsterdam Capital Partners (AMSCAP), G8 Subsea (G8), and Saemangeum Offshore Wind Power (SOWP) have agreed to cooperate towards a giant renewable energy mega-development of up to 3GW in the Yellow Sea off Korea.

Plans for the near-shore Samangeum Industrial Complex include a vast 2.7GW floating solar array and 300MW of offshore wind.

The floating PV plant would be located behind the world’s longest seawall at Saemangeum that encloses 409km2 of reclaimed area, AMSCAP and G8 said, without giving further details about the coastal complex.

AMSCAP said it will work together with G8 alongside SOWP on the offshore wind development, on both financial and a technical elements of the project. SOWP has already developed a 100MW offshore wind project that is in final development stage, with all permits and regulatory approvals secured.

“SOWP has clearly paved the way for offshore wind in Korea and we are very excited to contribute our structuring expertise and bringing financial partners to the region to execute this project and the further offshore wind plans,” Michael van der Heijden from AMSCAP said.

South Korea has earlier said it aims to develop 13GW of offshore wind capacity off its coast by 2030 to drive toward a target of having at least 30% renewable energy in its national mix by 2040.

Gerald Tan from G8 added: “With an already proven track record in South Korean offshore wind farms, G8 aims to develop this as a leading platform in Asia to accelerate the financing and construction of projects in this region”

SDIA is a central government agency of South Korea responsible for the Saemangeum Project, a grand national development project established in 2013 by executive order. The agency is in charge of administrative services and support, from master planning and coordination to investment attraction and promotion.

South Korea’s government is committed to developing Saemangeum into a global business and free trade hub, AMSCAP and G8 said.

Related News

bomb-cyclone-strikes-bc-coast

Tens of Thousands Left Without Power as 'Bomb Cyclone' Strikes B.C. Coast

VANCOUVER - A powerful storm, dubbed a "bomb cyclone," recently struck the British Columbia coast, wreaking havoc across the region. This intense weather system led to widespread disruptions, including power outages affecting tens of thousands of residents and the cancellation of ferry services, crucial for travel between coastal communities. The bomb cyclone is characterized by a rapid drop in pressure, resulting in extremely strong winds and heavy rainfall. These conditions caused significant damage, particularly along the coast and on Vancouver Island, where flooding, landslides, and fallen trees blocked roads, further complicating recovery efforts.

The storm's ferocity was especially felt in…

READ MORE
philippsburg-nuclear-power

Coronavirus impacts dismantling of Germany's Philippsburg nuclear plant

READ MORE

oil workers

Oil crash only a foretaste of what awaits energy industry

READ MORE

amazon wind power

Amazon Announces Three New Renewable Energy Projects to Support AWS Global Infrastructure

READ MORE

offshore wind turbines

Next Offshore Wind in U.S. Can Compete With Gas, Developer Says

READ MORE