Korea Midland Power Co. (KOMIPO) has launched the 370MW Shinan Ui Offshore Wind Power Project, whose commercial operation is scheduled for 2029.
KOMIPO held a groundbreaking ceremony for the project at the Shinan National Athletic Center on July 16 with officials of the Ministry of Climate, Energy and Environment (MCEE) and related companies in attendance.
The Shinan Ui Offshore Wind Power Project is the third wind power project KOMIPO has been implementing in Korea following the 60MW Southwest Sea Verification Center and the 100.08MW Jeju Hallim Offshore Wind Power Project.
If the latest wind power project is completed, it will raise the power company’s combined Offshore wind power facility capacity to 550MW, thus laying a foundation to expand renewable energy supply in Korea and ramp up the competitiveness of Offshore wind power operation.
The Offshore wind farm will have a 390MW facility capacity, and it is scheduled to be put into commercial operation in January 2029.
If and when the farm is dedicated, it will annually produce electricity about 300,000 general households can use and supply it to the southwestern sphere semiconductor cluster and neighboring advanced industry complexes for 25 years.
The project takes a model in which neighborhood fishermen and residents have formed a cooperative and share profit.
It has been recognized as the first 750-billion-won public growth fund in consideration of public interests.
In order to nurture the domestic Offshore wind power supply chains, Hanwha Ocean, SK Eternix and Hyundai E&C are participating in joint development and construction.
Major substructures and raw materials & equipment are supplied by Korean companies.
A 15MW wind turbine installation vessel (WTIV), to be built in Korea for the first time, is expected to contribute to raising technology self-sufficiency in the Korean Offshore wind power plant construction and maintenance market.
KOMIPO sees the implementation of the project as being in accordance with the government’s policies of reinvigorating Offshore wind power supply chains and power generation cost reduction trends.
It also will be conducive to achieving a combined 10.5GW dedication and ground-breaking goal by 2030.
KOMIPO President Lee Young-jo said, “The Shinan Ui Offshore Wind Power Project is the largest-ever mega project the government is implementing to stabilize eco-friendly electricity supply and we will devote ourself to supplying eco-friendly electricity in a safe and stable fashion and invigorating the Korean Offshore win power industry.”
KOMIPO Obtains the Go-Ahead to Build ‘Haenam Hwaweon BESS Power Plant Project’
A project to implement a large-sized battery energy storage system (BESS) project in Haenam, Jeollanam-do, is shifting into a high gear.
The Haenam Hwaweon BESS Power Plant Project, being implemented by a consortium of Korea Midland Power Co. and Topsun, has obtained permission for power-generation business from the Electricity Regulatory Commission under the umbrella of the Ministry of Climate, Energy and Environment. (MCEE), KOMIPO said.
The go-ahead came after the consortium was selected as a preferred negotiator at the second ESS central contract market competitive bidding, conducted by Korea Power Exchange.
It will serve as an opportunity for KOMIPO to secure a foundation to implement the project in a full-fledged fashion.
The project calls for building a long-cycle energy storage system with a 96MW facility capacity and a 576MWh battery capacity at a cost of about 150 billion won.
After the project is completed, the BESS will be operated the way in which excess renewal electricity produced at daytime is stored and supplied at high-demand hours.
It is expected to effectively adjust the load of the power grid and raise the flexibility and safety of the power networks in the Jeolla province area.
The long-cycle BESS is evaluated as a essential to rising the safety of the power grid and reducing curtailment since excess renewable power generation is stored at hours of high generation and supplied at high-demand hours.
In particular, the long-cycle BESS has been highlighted as key infrastructure designed to secure the flexibility of the power grid in the Jeolla province area with a higher portion of renewable energies.
Recently, the Jeollanam-do area, seeing the fast expansion of renewal energy generation facilities, including photovoltaic power, has been struggling with curtailment issues, caused by a shortage of power transmission and transformation power networks.
KOMIPO predicts the construction of the long-cycle BESS will contribute to reducing renewable energy curtailment and stabilizing the power grid.
KOMIPO plans to hold a ground-breaking ceremony in December after completing the remaining administrative procedures and dedicate the project and begin commercial operation in December 2027.
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