As Wind energy is currently covers a mere 1.5% of global electricity generation. Asian countries see the future in Wind energy. South Korea is investing a huge amount of $8.3 billion in Korean peninsula taking a time period of ten years.
Currently Hyundai Heavy Industries and Samsung Heavy Industries and few other industries are interested to volunteer for production of wind turbines.
According to MKE (Ministry of Knowledge Economy) this project will build 500 wind turbines producing 2,500 megawatts of energy a year. This is sufficient to light up 3.5 million residents for a full month. If it works they are going to increase the amount of wind turbines with 180 by 206 and 300 more by 2019.
MKE’s director Kang says that it would satisfy the need of growing demands of alternative energy market. He also says that other countries will notice Korean technology and apply the advanced technology exhibited by Korea.
MKE itself isn’t providing all the funds. They are hoping that private companies will invest together with them to complete the requirement of $8.3 billion. MKE will only fund 0.3% of overall cost of the project. But the ministry is hopeful that Korean shipbuilders would be interested in investing for the resources. They believe that it is the answer for country’s cash cow when it comes to mainstream technology.
Davit Melik-Shahnazaryan
00801541
http://www.alternative-energy-news.info/south-korea-off-shore-wind-farm/
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