Korea to expand offshore wind power generation capacity by 11-fold by 2030

Offshore wind turbines on the southern Jeju Island, Nov. 15 / Yonhap

Korea aims to sharply expand its offshore wind power capacity by over 10 times to 4 gigawatts (GW) by 2030 while lowering generation costs to expand the use of eco-friendly energy, the climate industry said Wednesday.

The goal was announced at a meeting of an intergovernmental task force on accelerating the deployment of offshore wind power, according to the Ministry of Climate, Energy and Environment.

Under the plan, the country will work to establish port infrastructure and other necessary facilities to expand yearly power generation capacity to 4 GW over the next five years from the current level of 0.35 GW. It also aims to generate an accumulated 25 GW of offshore wind power by 2035.

The government will also work to reduce the generation cost of the energy source to 250 won ($0.17) per kilowatt-hour (kWh) by 2030, and to 150 won per kWh by 2035.

To this end, the government will unveil a road map on bids for new offshore wind farm projects in the first half of next year, according to the ministry.

It will also provide support for the development of 20-megawatt (MW) turbine technologies and a demonstration facility with a testing capacity of 100 MW.

"Offshore wind power is Korea's future growth engine that will drive carbon neutral growth and strengthen national energy security, and a driving force for our industry, exports and jobs," Climate Minister Kim Sung-hwan said in a press release. "It is no longer a choice, but a path we must take."