New offshore wind market ready to quadruple targets

South Korea, which according to Wood Mackenzie will encompass 6.4 GW of offshore wind in the next decade, wants to increase efforts significantly ahead of 2040, following the current target seemingly slipping.

South Korea's first offshore wind farm, Tamra, of 30 MW, has been operational since 2016. | Photo: Tamra OWP

About a third of South Korea's power will originate from renewable energy sources in 2040, plans the government of Asia's fourth-largest economy in a draft for a new energy plan, according to Reuters.

"We have decided to increase the share of renewable power to between 30 percent and 35 percent by 2040 to move toward cleaner and safer energy based on an advisory group's recommendation," said Director of the Ministry of Trade, Industry and Energy Park Jae-young at a public hearing in Seoul last week.

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