Release Date: 18-Sep-2012
Wind is one of the most abundant resources available on the island country of South Korea which has not been blessed with considerable conventional energy resources. Wind energy provides the key to the independence of South Korea from its distinguished statistics in terms of energy imports. It is the 5th largest importer of crude oil, 3rd largest of coal and 2nd largest importer of LNG, all of which constitutes for sufficing 97% of the country’s energy needs. Wind energy development has shown the government the path to be taken to curb its increasing import reliance amidst the growing population and energy demand. A recently published research report “South Korea Wind Power Sector Analysis” by KuicK Research details the current wind power sector development scenario that has gained unprecedented attention in the recent past.
Contributing only 0.43% to the total power generation by fuels in 2011, wind energy is in its infancy in the country right now. Although the first commercial wind machine was commissioned in 2000, the policies and the economic downturn had played a marring role in the smooth development of the sector. Despite these hurdles the government, along with a commendable contribution from the private sector, has been able to increase the installed capacity beyond 400 MW in 2011 with another 160 MW of wind farms nearing completion. The research report gives details of all the wind farms that are operational and planned and also gives the cumulative estimated annual power generation from these wind turbines.
South Korea has enormous wind energy resources both on and off the shore and with limited land available for onshore wind farms, the government is moving towards exploiting the offshore wind power potential. South Korea has a vast reserve of more than 30 GW of wind onshore energy potential. Similar statistics for offshore wind power have been given in the report.
“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".