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Construction of an offshore wind farm with 8 nuclear power plants in Sinan… President Wen “The 5 Powers of Offshore Wind Power”

Input 2021.02.05 15:23 | Revision 2021.02.05 15:37

Participation in KEPCO, SK E&S, Hanwha E&C, Doosan Heavy Industries & Construction
Private investment of 47.6 trillion won out of the 48.5 trillion project size
8.2GW electricity production outlook… Scale of 8 nuclear power plants
Support plan by enacting’Special Act for Promotion of Wind Power Distribution’
Sinan residents establish a cooperative to directly participate in power generation projects

President Moon Jae-in salutes the national flag at the’World’s Largest Offshore Wind Power Complex 48 Article Investment Agreement’ held at Imja 2 Bridge in Sinan-gun, Jeollanam-do on the afternoon of the 5th. /yunhap news

A large-scale offshore wind farm with a project size of 48 trillion won will be built in Sinan-gun, Jeollanam-do. Private power generation such as KEPCO, SK E&S, and Hanwha E&C, and offshore wind power manufacturers such as Doosan Heavy Industries & Construction will participate in the offshore wind farm construction. President Moon Jae-in attended the offshore wind farm investment agreement held in Shinan on the 5th and expected to leap into the’world’s top 5 offshore wind power by 2030′.

The Blue House said that that afternoon, President Moon attended the ’48 trillion wind blows in the world’s largest offshore wind farm’ held at Imja Bridge, Jido-eup, Shinan-gun. The offshore wind farm is a project that combines a regionally balanced New Deal and a Green New Deal among the’Korean New Deal’ promoted by the Moon Jae-in government as a national project.

In his congratulatory speech, President Moon expected that if the Sinan offshore wind power project was successfully carried out, Korea would leap into the world’s top five offshore wind power by 2030. In addition, in promoting’carbon neutrality’ in all areas of industry, economy, and society, it is important to switch the main source of energy to renewable energy. To this end, the government plans to enact and support the’Special Act for Promotion of Wind Power Distribution (tentative name)’.

The Shinan Offshore Wind Power Project is a project to build the world’s largest offshore wind farm with a scale of 8.2 GW by participating private power generation companies such as KEPCO, SK E&S, and Hanwha E&C, offshore wind power manufacturers such as Doosan Heavy Industries, CS Wind and Samgang M&T, and local residents. 8.2GW is the amount of electricity equivalent to about eight 1GW-class nuclear power plants. As of last year, it is more than 7 times that of the British Horn Sea, the world’s largest offshore wind farm (1.12GW).

Offshore wind farm. / Provided by Doosan Heavy Industries & Construction

With this investment agreement, if a large investment of 48.500 billion won is made by 2030, it will be possible to develop the Mokpo New Port support pier and the hinterland as an offshore wind power distribution center. Of the 48.500 billion won, private investment is 47.600 trillion won and government investment is 900 billion won, which is a private initiative. It is close to a third of the Korean version of the New Deal, which is worth KRW 160 trillion. The project is expected to create 5,600 direct jobs and 120,000 jobs including indirect jobs.

The government expects the Shinan Offshore Wind Power Complex to become the basis for the full-scale’energy conversion’ promoted by the Moon Jae-in administration and achieving a carbon-neutral society in 2050. 8.2GW offshore wind power generation has the effect of reducing 10 million tons of carbon dioxide per year, and is similar to planting 71 million pine trees.

In addition, this project is the core project of the Jeonnam Regional Balanced New Deal. The Blue House said, “It will be a new turning point in revitalizing the economy in the Jeollanam-do region, which is difficult due to the stagnant manufacturing industry and the decline of the population.”

The Shinan offshore wind power project is characterized by the participation of local residents in addition to offshore wind power generation companies and manufacturers. Residents of Sinan-gun directly participate in power generation projects by establishing cooperatives. Promote manufacturer subcontracting through cooperatives. In addition, it was decided to supply manpower by establishing a’manpower bank’ for local residents.

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