Vice Minister Gi Jae: "To Reduce Greenhouse Gases, Accelerate Offshore Wind Power Development"

"Expansion of Renewable Energy Supply, Offshore Wind Power is Key"... Special Act Also Being Promoted

Deputy Minister Lee Ok-won of the Ministry of Economy and Finance visited the offshore wind power demonstration complex in Buan-gun, Jeollabuk-do on the 2nd and received a briefing on the current status of the Southwest Sea demonstration complex. On the same day, Deputy Minister Lee inspected the offshore substation deck and received explanations from officials. (Photo by Ministry of Economy and Finance)

[Sejong=Asia Economy Reporter Moon Chaeseok] The government, having raised the Nationally Determined Contribution (NDC) target for greenhouse gas reduction, has decided to accelerate the progress of offshore wind power projects to increase the supply of renewable energy.

On the 12th, Lee Eokwon, the 1st Vice Minister of the Ministry of Economy and Finance, visited the Southwest Offshore Wind Power Demonstration Complex located in Buan and Gochang counties, Jeollabuk-do, and announced this plan. The Southwest Offshore Wind Power Demonstration Complex is the largest commercial offshore wind power complex in Korea, completed in January last year. At the site, Vice Minister Lee requested, "Please make greater efforts to ensure the smooth implementation of large-scale offshore wind power projects."

He explained, "To achieve the 2030 NDC enhancement target, which is scheduled to be decided this month, the supply of renewable energy must be expanded dramatically," adding, "Offshore wind power is key because it has a higher utilization rate compared to other renewable energy sources and enables high-capacity power generation through large-scale complex development."

He continued, "Most large-scale wind power projects are still in the early stages of business development, which takes a long time," emphasizing, "It is necessary to proceed with a sense of urgency going forward."

Vice Minister Lee also explained that efforts will be made to promptly legislate the Special Act on the Promotion of Wind Power Supply. The special act includes provisions to temporarily support, for ten years, the integrated processing of permits and approvals in wind power zones.

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