Jungbu Power Begins Development of MW-Class Floating Offshore Wind Power System

Selected for This Year's '1st Phase Energy Technology Development Project'
Investing Over 27.5 Billion KRW Over 5 Years to Build the System

A floating offshore wind power system model buoyant on the water surface while maintaining the tension of the mooring device. (Photo by Korea Midland Power Co., Ltd.)

[Asia Economy Reporter Moon Chaeseok] Korea Midland Power Co., Ltd. is set to develop a megawatt (MW)-class floating offshore wind power system in line with the Green New Deal policy.

On the 16th, Midland Power announced that it was selected for the MW-class floating offshore wind power system development project under the '2020 1st Energy Technology Development Project,' organized by KAIST, Korea Wind Industry Association, Korea Institute of Energy Technology, and Korea Electrical Association. This project is led by the Ministry of Trade, Industry and Energy, and a formal agreement was signed on the 29th of last month to commence research and demonstration.

The research is being promoted to address the shortage of sites for offshore wind power plants and the need to introduce large-scale floating offshore wind power in deep waters far from shore, in accordance with the government's new and renewable energy transition policy. The goal is to design a floating wind power system, derive installation and operation plans, and secure the economic feasibility of floating offshore wind power.

The research period is five years and will be conducted in two phases. Phase 1 will involve a government grant of 470 million KRW to develop demonstration sites, secure community acceptance, and present floating body concepts. In Phase 2, a government grant of 27 billion KRW will be invested to optimize the MW-class floating body design, manufacture and install the system, and conduct demonstration operations.

Based on its experience in developing and operating large-scale offshore wind power plants, Midland Power will participate with consortium members in discovering demonstration sites, designing floating offshore wind power systems, and operating demonstration facilities.

Park Hyung-gu, President of Midland Power, stated, "As a leading public enterprise in new and renewable energy generation, Midland Power will spare no effort in actively investing in and supporting energy transition projects and research and development, aiming to achieve a 25% share of new and renewable energy generation by 2030."

This content was produced with the assistance of AI translation services.