Doosan Heavy Industries (DHI) has remained the only South Korean company interested in the state-backed project for the development of up to 2.9 GW of offshore wind capacity in the Yellow Sea region, Business Korea reports.
DHI is reportedly planning to develop a 60 MW offshore wind test site, with other companies losing interest in the project due to delays and a slower-than-expected growth in the domestic wind power market. The company currently has a 3MW offshore wind turbine – WinDS3000TM – in its portfolio. The turbine was developed in 2011.
The South Korean government launched the project in 2011, with construction scheduled to start in 2013. However, opposition from local residents derailed the project and postponed any further developments by March 2016, when first drilling investigations started at the site.
South Korea added 239 MW of wind power capacity in 2015, 10 MW of which was installed offshore.
The slow development within the industry has caused the South Korean companies to lag behind the global competition in terms of technological advances and power generation efficiency, with non-domestic wind power companies offering technology which is up to 10% more efficient in generating electricity.
This will have to change if the South Korean companies want to be competitive in the offshore wind market which is set for an annual growth of 21.8% on average by 2020, according to the Korea Energy Economics Institute.
Offshore WIND Staff