21 Months After Construction Began in March 2024
Seven Turbines Installed as of End of November
Sequential Commercial Operation of 64 Turbines by June Next Year
The installation of seven turbines for Nakwol Offshore Wind Power has been completed in the waters off Yeonggwang, Jeollanam-do. Nakwol Offshore Wind Power
Nakwol Offshore Wind Power announced on December 10 that it has begun producing electricity for the first time, two years after being selected in the fixed-price contract competitive bidding in December 2023. This comes 21 months after construction began in March 2024.
The Nakwol Offshore Wind Power Project completed the sealing of the substation's meter on December 2, and received the "Initial Power Trading Commencement Approval Certificate" from the Korea Power Exchange, thereby starting commercial operation of the first turbine.
The Nakwol Offshore Wind Power Project, which will install a total of 64 offshore wind turbines, had completed the installation of seven turbines as of the end of November. The project plans to sequentially complete the installation and commercial operation of all 64 turbines by June next year.
Led by Myungwoon Industrial Development in partnership with Thailand's energy company B.Grimm Power, the Nakwol Offshore Wind Power Project obtained its power generation business license in January 2019 and underwent an environmental impact assessment in December of the following year. After being selected in the government’s fixed-price contract competitive bidding in December 2023, it signed a Renewable Energy Certificate (REC) trading agreement with Korea Southern Power in February 2024.
Photo of the opening and operation of the Nakwol Offshore Wind Power Project Integrated Control System. Nakwol Offshore Wind Power
Located about 20 kilometers offshore from Gyeoma Port in Yeonggwang County, Jeollanam-do, the Nakwol Offshore Wind Power Project has a total capacity of 364.8 MW, with 64 wind turbines of 5.7 MW each. This makes it the largest offshore wind farm ever constructed and completed in South Korea.
Until now, the total capacity of all offshore wind farms completed and operating in South Korea amounted to only 352 MW. When the Nakwol Offshore Wind Power Project is fully completed next year, the nation’s offshore wind power capacity will more than double to 716.8 MW.
Upon final completion, the Nakwol Offshore Wind Power Project will be capable of producing 900 gigawatt-hours (GWh) of electricity annually, enough to supply about 250,000 households. It is also expected to reduce greenhouse gas emissions by 430,000 tons per year.
More than 100 domestic companies have participated in the Nakwol Offshore Wind Power Project, including GS Entec (monopiles), Samil C&S (transition pieces), Taihan Cable (submarine cables and cable laying vessels), LS Electric (gas-insulated switchgear, transformers), Youngin Technology (extra-high voltage equipment), KEPCO KDN (integrated control system), Hoban Industrial (onshore construction), Samhae ENC (offshore construction), Toseong Construction (installation of upper and lower structures), and Hyundai Steel Industries (installation vessel Hyundai Frontier).
A representative from Nakwol Offshore Wind Power stated, "More than 70% of the total investment is going to domestic companies, contributing to the formation of the domestic offshore wind power supply chain, which is still in its early stages. By sharing profits and providing development funds and support for local businesses through a resident participation system for Yeonggwang residents, we are creating a model case of an offshore wind power project that coexists with the local community."
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