Jungbu Power Generating 'Works' with Offshore Wind Power... Revitalizing Economy in Line with Green New Deal

Creation of a 1000MW-Class Offshore Wind Farm in Incheon Deokjeokdo Waters
"Profitable Sea Breeze"... Expected to Generate Regular Employment and Added Value
Use of Floating System Also Expected to Revitalize Shipbuilding Industry

Korea Midland Power Headquarters

[Asia Economy Reporter Kim Bo-kyung] Korea Midland Power is promoting a project to establish an offshore wind farm with a capacity of 1000 MW in the waters near Deokjeokdo, Incheon, aiming for commercial operation by 2025. It is also undertaking a research task to develop a 'floating offshore wind' system that can operate in deep offshore waters. The project will create new jobs and revitalize the local economy by aligning with the trending Green and Digital New Deals.

Midland Power announced on the 21st that it is preparing for the energy transition era by expanding offshore wind projects as part of the government's Green New Deal policy. First, it plans to build a 1000 MW offshore wind farm in the waters near Deokjeokdo, Incheon, and commence commercial operation by 2025. The offshore wind farm will consist of foundations, wind turbines, offshore substations, and subsea cables. Various personnel in turbine, shipbuilding, and construction sectors will be needed at each stage. Significant job creation and added value effects are expected accordingly.

Midland Power forecasts that through this project, 200 regular employees will be newly hired for the production of offshore structures as foundations, generating an added value of 220 billion KRW. Separately, 58 new hires are expected for the construction of work vessels needed for the wind farm, creating an added value of 720 billion KRW, which is also expected to revitalize the shipbuilding industry. Additionally, 300 regular employees will be hired for offshore wind operation personnel, with an estimated 28,000 indirect jobs.

Furthermore, Midland Power expects that large-scale offshore wind development on the west coast will contribute to revitalizing the shipbuilding industry in Gunsan City, Jeonbuk, an economically distressed area. Kim Kwang-jung, chairman of the Gunsan Shipbuilding and Marine Technology Business Cooperative, stated, "With Midland Power's large-scale offshore wind promotion, it is expected that the acceleration of industry conversion and job creation for shipbuilding companies in the Gunsan area, which has suffered from the shipbuilding recession, will revitalize the local economy."

Reference photo

The Midland Power consortium was selected as one of the four consortia to carry out the MW-class floating offshore wind system development task under the '2020 1st Energy Technology Development Project' led by the Ministry of Trade, Industry and Energy. Midland Power, in consortium with KAIST, Korea Wind Industry, Korea Energy Technology Institute, and the Korea Electrical Association, is conducting the first phase of research with a government grant of 470 million KRW. The research includes demonstration site development, securing community acceptance, and proposing floating body concepts. Based on the evaluation of the first phase results, only one consortium will proceed to the second phase of research worth 27 billion KRW.

This research is being promoted to solve the shortage of sites for offshore wind power plants and to introduce large-scale floating offshore wind power in deep offshore waters with depths exceeding 30 meters. The goal is to design the floating wind system, derive installation and operation plans, and secure the economic feasibility of floating offshore wind power. Installation costs following the commercialization of floating wind power after 2025 are also expected to contribute to revitalizing the shipbuilding industry.

Park Hyung-gu, president of Midland Power, said, "As a leading public enterprise in renewable energy generation, Midland Power will spare no effort in active investment and support for energy transition projects and research and development (R&D), aiming to achieve a 25% renewable energy generation ratio by 2030."

Meanwhile, Midland Power has established an integrated monitoring system for the first time among power generation companies to strengthen industrial safety. It is expected to comprehensively remotely monitor renewable energy generation facilities, which were previously operated in a dispersed manner across the company, and share operational information in real time. In the future, it plans to establish and promote mid- to long-term digital New Deal policies that integrate 4th Industrial Revolution technologies.

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