20 Trillion Won in Private Investment for Shinan Region
10 Complexes with a Total Capacity of 3.2GW
Significance in Realizing Basic Energy Income
Expectations for Corporate Attraction and Job Creation
Governor Kim: "Leap Forward as Offshore Wind Power Hub"
Jeollanamdo Governor Kim Youngrok is giving a briefing on the designation of the offshore wind power complex at the provincial office briefing room on the 22nd. Photo by Jeonnam Province
On April 22, Jeollanamdo announced that the 3.2GW Shinan offshore wind power complex, which is being promoted as the largest in the Asia-Pacific region and the second largest in the world for a single site, has been designated as an offshore wind power cluster by the Ministry of Trade, Industry and Energy's New and Renewable Energy Policy Review Committee.
Based on this, Jeollanamdo plans to achieve the following: the deployment of 30GW of offshore wind power across the province, centered on the eastern region including Yeosu and Goheung (13GW) as well as Yeonggwang, Jindo, and other areas; the realization of 1 trillion won in basic energy income for residents; and the attraction of companies in related equipment industries and those seeking to meet the Renewable Energy 100 (RE100) initiative.
An offshore wind power cluster is a zone where renewable energy generation facilities are installed and operated collectively, led by the local government, which secures both public acceptance and environmental viability through a public-private consultative body.
With the establishment of shared grid connection facilities, the development of offshore wind power complexes is expected to accelerate. A total of 20 trillion won in private investment will be injected to create 10 complexes with a combined capacity of 3.2GW. This is equivalent to the capacity of three nuclear power plants.
Jeollanamdo plans to significantly increase offshore wind power deployment and reduce generation costs to secure economic viability by leveraging economies of scale.
To further speed up the development of large-scale power complexes, Jeollanamdo will form a power system consultative body that includes residents along the transmission line routes and will actively work on the construction of transmission and substation facilities.
In addition, Jeollanamdo expects to secure 245 billion won annually in Renewable Energy Certificates (REC), which will be used to share benefits with residents and realize basic energy income.
Along with market expansion, Jeollanamdo will actively work to build an ecosystem for related industries.
Through regional supply chain incentives and other measures, Jeollanamdo will focus on attracting offshore wind-related companies such as those producing substructures, towers, and cables. The province also plans to create an offshore wind equipment industry cluster in areas including Mokpo New Port and nearby regions, nurturing these industries alongside shipbuilding as representative sectors of Jeollanamdo.
Governor Kim Youngrok stated, "Going forward, we will attract 100 companies manufacturing turbines, blades, and substructures to Mokpo New Port and Haenam Hwawon Industrial Complex, which have been designated as Opportunity Development Zones. We will also train more than 2,500 skilled professionals and create 30,000 jobs. By deploying 30GW of offshore wind power across the entire province, including the eastern region, we aim to establish Jeollanamdo as the capital of Korea's energy industry and the hub of offshore wind power in the Asia-Pacific region."
Meanwhile, the global wind power industry, which has been experiencing a downturn, is welcoming the designation of the cluster, interpreting it as a positive signal for Korea's previously sluggish offshore wind power sector. Expectations have grown even further following the passage of the Offshore Wind Power Special Act and the National Power Grid Expansion Special Act in March.
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