South Korea offshore wind

Offshore Wind Industry Will Become €130 Billion Annual Market By 2020

Offshore wind power may yet not match the overall strength of onshore wind, but the industry is on course grow rapidly to become an €130 billion annual global market by 2020.

A new report from industry consultants Roland Berger, “Offshore Wind Toward 2020,” concludes a combination of industry trends will soon make offshore wind cost competitive with other generation sources in many markets.

Korea Ramping Up Wind Power Projects

  Korea is speeding up its wind power projects, aiming to complete construction of turbine test beds in the South and Yellow Seas by June 2013, as well as expanding some pre-existing offshore projects. Jae-Yong NamKung, Deputy Director of New and Renewable Energy Division, confirmed Korea’s ambitions at the June … [continued]

Wind Energy News

  Some top wind energy news from around: Research How Wind Cuts Electricity Bills “Wind as an electricity supply resource has been getting steadily cheaper, and its technical performance characteristics continue to improve as larger turbine sizes and higher hub heights capture both economies of scale and more of the … [continued]

Offshore Wind Picking Up with New Developments in Scotland, South Korea, US

2012’s set to be another pivotal year for the global wind power industry. Momentum’s building behind offshore wind power, however, which has the potential to lift the industry to new heights. Scotland and South Korea’s Samsung Heavy Industries just announced a major offshore wind R&D and manufacturing investment partnership, and news announced yesterday by Interior Secretary Ken Salazar paves the way for the first auctions of US offshore wind leases.

South Korea to Build World’s Largest Offshore Wind Farm, Domestic Wind Power Industry

South Korea announced it will build the world’s largest offshore wind farm, a multi-billion dollar, 2.5 GW wind farm that will go up in three phases off the country’s southwest coast. A consortium of eight South Korean companies led by Korea Electric Power will carry out the project as the country’s industrial companies increasingly look at wind and renewable power as economic growth engines.