South Korea President Moon Jae-in says his government is to provide “full support” for the development and construction of what would be the world’s largest floating offshore windfarm
The windfarm, to be developed off the coast of Ulsan, would have a generating capacity once completed of 6 GW. If the project proceeds as planned, it would be completed by 2030.
In a speech on 6 May 2021, the President said all participating entities – which include the government, city authorities and related government ministries, domestic and foreign firms, research institutes and colleges – “should make concerted efforts to ensure the success of the project.”
The US$32Bn project will be developed by a government-private partnership in what used to be a natural gas field in South Korea’s the East Sea. “The government will take the lead first,” President Moon was reported as stating.
In February 2021, President Moon announced support for an 8-GW offshore wind project.
As Reuters reported, the massive project is part of an effort to drive an environmentally friendly recovery from the economic effects of the Covid-19 pandemic.
Reuters said the project is also a major component in President Moon Jae-in’s ‘Green New Deal’, which he initiated last year.
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