SEOUL, Aug. 29 (Korea Bizwire) — Orsted A/S, the world’s largest offshore wind power producer, said Thursday it is seeking business opportunities in South Korea following the country’s plan to go green in power generation.
The Danish state-run energy firm said it has recently completed the establishment of its Korean branch following South Korea’s announcement of a “Renewable Energy 3020 Plan,” which aims to raise the proportion of renewable energy supply to 20 percent of total power output by the year 2030.
“We believe South Korea has a big potential in offshore wind power generation,” said Park Jung-min, head of the Korean market development at Orsted Asia Pacific. “We can help South Korea meet its renewable energy goal.”
South Korea targets to have a total renewable energy capacity of 63.8 gigawatts (GW) by 2030, with 17.7 GW coming from wind power.
Orsted claimed that South Korea will particularly thrive from offshore wind power generation considering its geographical characteristics.
“South Korea is a peninsula surrounded by three seas,” Park said. “We estimate that South Korea’s potential offshore wind power capacity can reach 30 GW.”
Orsted, which has installed more than 1,200 offshore wind turbines globally, has previously signed multibillion-dollar contracts with South Korean companies, including POSCO and LS Cable & Systems Ltd., as suppliers for its offshore wind projects.
Orsted said it further wants to expand that partnership with local companies.
“Korean companies have demonstrated their competence through participating in a number of European offshore wind projects,” the company said.
“Orsted is looking forward to work with such capable Korean companies in the future.”