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Orsted Sees High Market Potential in Korean Offshore Wind Power

Power News - Published on Tue, 10 Sep 2019

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Denmark’s state-run energy company Orsted sees high potential in the Korean offshore wind power market, intending to build long-term, sustainable relationships with the Korean government and companies. Mr Matthias Bausenwein, Orsted’s head of Asia-Pacific operations, said in an interview with The Korea Herald that “Korea has a high potential in the offshore wind power market, given that the nation is a peninsular, possesses numerous sites with superb wind and the government’s strong willingness to achieve its energy shift goal."

Orsted built the world’s first offshore wind farm in 1991 and has installed over 1,200 offshore wind turbines in Europe and the US to date. The firm aims to build a long-term and sustainable partnership with the government and companies in Korea, which implemented its Renewable Energy 3020 plan in 2017. The plan is intended to increase the share of renewable energy power generation to 20%by 2030, with the aim of producing 63.8 gigawatts through renewable energy sources, of which 17.7 gigawatts through wind power.

Offshore wind power is rapidly emerging to become a practical renewable energy source amid many countries’ energy transition taking into consideration climate change and the switch toward low-carbon economies.

Mr Bausenwein added that “We are building a long-term track record (here) by having relationships with Korean companies for Taiwanese projects and European projects. We are fairly confident we can collaborate with Korean companies."

This year, Orsted signed two multibillion contracts with Korea’s Hyundai Steel Industries and Samkang M&T to provide jacket foundations, and with LS Cable to provide the undersea cable that is used in the construction of Taiwan’s Greater Changhua 1 & 2a offshore wind farm. Greater Changhua projects are being developed by Orsted with a total capacity of 2.4 gigawatts. Orsted believes through the projects, there will be new jobs and new opportunities to create new small, midsized businesses in terms of components and services.

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Posted By : Rabi Wangkhem on Tue, 10 Sep 2019
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