A well-known Canadian power company with interests in offshore wind has signed a memorandum of understanding with a leading power and engineering company in South Korea.
Northland Power confirmed reports in the South Korean press that it had signed a memorandum with Kepco E&C and said it looked forward to working with the Korean firm “to support the development of a robust Korean offshore wind industry.”
Kepco is planning to build an offshore windfarm off the coast of South Korea close to the southern resort island of Jeju. Northland is already heavily involved in offshore wind projects in Europe and in Taiwan.
Reports suggest that the memorandum covers joint participation in offshore windfarms in South Korea and outside the country. Their focus is thought to be on the market for floating offshore wind.
Faced with a choice between coal-fired power generation and investment in green energy, the South Korean Government has opted for the latter and has upped targets for renewable energy-based power generation. The government said it would like to see new renewable power plants equivalent in capacity to six coal-fired power stations developed by power companies. A number of renewable energy projects are being planned, including new offshore windfarms areas including Taean, Jeju and Gori.
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