According to the provincial government, it earned a total of 11.3 billion won (US$10 million) since it installed the wind turbines at the Gunjang Industrial Complex seawall in 2002. (image: North Jeolla Province)
SEOUL, June 18 (Korea Bizwire) – North Jeolla Province is making 1 billion won annually from a windfarm of 10 wind turbines installed near a seawall.
According to the provincial government, it earned a total of 11.3 billion won (US$10 million) since it installed the wind turbines at the Gunjang Industrial Complex seawall in 2002. The windfarm produces 7,900kW of electricity, which can cover the annual electric consumption of 2,400 households.
To install the wind turbines, the central and provincial governments put up 16.1 billion won, followed by an additional provincial government investment of 5.6 billion won. The provincial government has already made twice as much in profits compared to the original investment.
An official from the provincial government said, “The windfarm not only increased the tax revenue of the province, but the turbines are also used as verification test venue for domestic renewable energy companies and an education place to train manpower in the clean energy sector.”
By John Choi (johnchoi@koreabizwire.com)
