Release Date: 01-Nov-2012
South Korea is rapidly emerging as a favorite destination for wind power investors and enthusiasts. The little country spreading to about 38,023 Square Kilometers to has become the centre of attraction for wind energy. The country has immense wind power potential more offshore than onshore due to the land constraints. South Korea has become the 9th largest energy consumer in 2011from being the 10th largest in 2008. There has been a growth in the population and economic changes have increased the country’s appetite for energy resulting in an increase in its energy consumption. South Korea along with China, Japan and India consume about 30% of the world’s total energy. The renewable and wind power industry is still in its embryonic stage, it is nonetheless growing rapidly. The Korean government has announced a ‘low carbon green growth’ initiative under the realms of which the country will be shifting to renewable sources of power generation affecting a reduction in the emissions of carbon dioxide in the future to achieve the target specified in the coming years.
The wind energy potential in South Korea, cumulatively, stands at more than 120 GW which can be exploited to produce huge amounts of electricity to help reduce the burden on fossil fuel imports; the share of onshore potential is around 40 GW. The onshore potential reserves in terms of electricity generation stand at close to 100 TWh per annum. The potential electricity generation definitely gives a positive outlook and attracts the investors towards onshore wind power generation.
The onshore practical reserves are certainly enough to boost up the electricity generation of the country. The onshore reserve development is already underway and many wind farms have already been set up. This has already enhanced the onshore wind energy development scenario. The country boasts of its huge coastline along which most of the onshore wind farms are located.
The offshore wind energy potential installation capacity stands at close to 90 GW. The offshore potential is significantly higher than the onshore potential which is because of the fact that South Korea is an island country with much more wind energy in the seas rather than on land, which is anyway limited. The country is surrounded by water bodies, a fact that allows it to go for offshore and deepwater wind farms where the wind speed is much more and almost uninterrupted throughout the year.
“South Korea Wind Power Sector Analysis” gives comprehensive overview on South Korean wind industry with a comparative analysis between the past, present and future. The report gives the new wave of opportunities that have been opened with this great gush of wind.
For more information please visit "South Korea Wind Power Sector Analysis".