South Korea is building the world’s largest offshore wind farm with a $ 43 billion investment

South Korea is building the world's largest offshore wind farm with a $ 43 billion investment

Global warming and climate change have led to significant increases in investment in renewable energy, and now South Korea $ 43.2 billion program It has unveiled itself to build the world’s largest offshore wind farm.

Renewable energy has received a lot of attention in recent years, and even for the first time in 2020, their share of EU electricity generation surpassed fossil fuels. Now South Korea is working to increase the share of wind energy in electricity generation.

South Korea plans to build the world’s largest offshore wind farm by 2030 with a capital of $ 43.2 billion. The project is part of an effort by incumbent President Moon Jae-in to move towards renewable energy.

The country decided last year to reduce its dependence on fossil fuels. Asia’s fourth largest economy wants to reduce carbon emissions to zero by 2050. Moon attended the signing ceremony of the plant with a maximum capacity of 8.2 gigawatts in the coastal city of Sinan. The South Korean president announced the project as accelerating the country’s transition to renewable energy:

“With this project, we will accelerate the transition to environmentally friendly energy and move more strongly towards non-carbon emissions.”

Many companies are involved in this project, such as Korea Electric Power Corp. and Doosan Heavy Industries & Construction Co. The companies will provide about $ 42.5 billion in funding for the project, with other costs to be borne by the government.

The project will create 5,600 jobs and bring South Korea one step closer to its goal of generating 10 times more energy from wind farms. The country’s wind farms currently generate 1.67 gigawatts of energy, which will increase to 16.5 gigawatts by 2030.

Generating 8.2 gigawatts of energy equals energy production by six nuclear reactors, or has the effect of planting 71 million pine trees. Finally, it should be noted that the world’s largest offshore wind farm with a capacity of 1.12 GW is located in the UK.

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