Korea Shifts from a Steel Powerhouse to a Wind Energy Powerhouse

 “If the Korean government’s proactive wind power policies go hand in hand with drastic investment by relevant companies and efficient R&D projects, the wind power industry will create synergy with Korea’s world-class technologies related to shipbuilding, automobiles and the heavy industry. This will catapult Korea into the ranks of the world’s wind powerhouses in the near future,” Dr. Rim-taig Lee, Chairman of Korea Wind Energy Industry Association (KWEIA) said. KWEIA has been at the forefront of globalizing Korea’s wind power companies. They have signed MoUs with global wind power associations such as American Wind Energy Association (AWEA, Stephen Miner, Senior Vice President of AWEA), RenewableUK(CEO, Maria McCaffery), the Danish Wind Industry Association (DWIA, Jan Hylleberg, CEO of DWIA) and Innovation Norway(President & CEO, Gunn OVESEN).

Nations around the globe are busy working to attain renewable energy sources. The global wind power market, which witnessed installed global wind capacity increase to 40.2 GW in 2011 (up 6% from 2010), has been on a steady upward trajectory: The new global total at the end of 2011 is 238 GW, representing cumulative market growth of more than 20%,which is certainly a respectable figure for any industry in this economic climate, even though it is lower than the average over the last 10 years, which was about 28%.

Korea also has set its sights on offshore wind power projects. The Korean government is speeding up the construction of wind power turbine test beds to vitalize the offshore wind power business in the South and Yellow Seas. At the Global Wind Day Networking Seminar held on June 15, Jae-Yong NamKung (Deputy Director of New and Renewable Energy Division of the Ministry of Knowledge Economy (MKE)) said, “The construction of a 100 MW wind power test bed in Yeonggwang County (a county in South Jeolla Province) will be completed in June of next year, a year earlier than the initial schedule.”

For full article see Korea IT Times.