Completion Scheduled for 2031... Annual Production of Approximately 880,000 MWh of Electricity
"A Project Contributing to the National Task of Carbon Neutrality"
On the 19th, Utap Construction held an offshore wind power business briefing at the multipurpose hall on the first floor of the Kim Daejung Convention Center in Seo-gu, Gwangju. Photo by Kim Wanjung
Utap Construction, a regional mid-sized construction company that has entered the large-scale offshore wind power business, announced on the 20th that it held an offshore wind power business briefing.
The offshore wind power business briefing, held on the 19th at the multipurpose hall on the first floor of the Kim Daejung Convention Center in Seo-gu, Gwangju, was attended by Jung Byungrae, Chairman of Utap Construction; Choi Seok, Chairman of Utap Engineering; Han Sangwon, Chairman of the Gwangju Chamber of Commerce and Industry; Noh Dongil, CEO of Gwangju FC; Kim Byungnae, Mayor of Nam-gu; and about 100 other participants.
The briefing was conducted in the order of an overview of the offshore wind power business, a video screening, a presentation, and a Q&A session. Utap Construction introduced the overall outline of the Shinan offshore wind power project, the status of securing grid connections, mutual cooperation agreements with local residents, business profitability and scalability, and its alignment with government policies.
The Shinan offshore wind power project being promoted by Utap Construction will have a facility capacity of 323MW and cover an area of 61.26 square kilometers in the waters near Jaewon-ri, Imja-myeon, Shinan-gun, Jeollanam-do, with a total project cost reaching 2 trillion won.
Construction is scheduled to begin at the end of 2029, with completion in 2031 and the goal of commencing commercial operation in 2032. The project is expected to produce approximately 880,000 MWh of electricity annually, supplying power for 1 million people.
Utap Construction received final approval for the power generation business license from the Electricity Regulatory Commission of the Ministry of Trade, Industry and Energy on December 30 last year. With the passage of the "Special Act on the Promotion of Offshore Wind Power Deployment and Industry Development" at the National Assembly plenary session on February 27, the permitting procedures for offshore wind power projects are expected to be significantly streamlined, and systematic development methods such as planned site designation are likely to be introduced.
The government is expected to complete the evaluation process for the Shinan Offshore Wind Power Cluster Project, which involves a total investment of 19 trillion won, within April and accelerate the full-scale launch of the project.
Choi Seok, Chairman of Utap Engineering, stated, "Utap Construction has joined the national task of carbon neutrality, a global trend, by undertaking the Shinan offshore wind power project. This project has been made possible thanks to the dedicated efforts of our employees and the support of the local community."
Han Sangwon, Chairman of the Gwangju Chamber of Commerce and Industry, said, "The fact that Utap Construction, a local company, has taken on the challenge in the offshore wind power sector, a key area of the future energy industry, is a great source of pride for the economies of Gwangju and Jeollanam-do. The Shinan offshore wind power generation project now being promoted is a golden opportunity for Gwangju, Shinan, and the entire southwestern region of Jeollanam-do to combine their strengths and achieve mutual growth and development."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
