Korea Midland Power Co. (KOMIPO) held a ceremony to dedicate a wind power plant built in Stavro, Sweden, at Frankfurt, Germany on May 5. KOMIPO was the first Korean power company to enter the European renewable energy market.
KOMIPO has seized on overseas renewable energy markets to preemptively cope with the global carbon neutrality and energy paradigm shift.
The Korean power company has finally borne fruit in the European renewable energy market, based on its rich renewable energy power project construction, operation and maintenance capabilities.
The Stavro wind farm with a power generation capacity of 254.2MW is located in Western norrland, Central Sweden, where transition to renewable energies is underway in earnest.
A whole view of the Stavro wind farm in Sweden, dedicated by KOMIPO on May 5.
Construction of the wind farm cost a combined 383 billion won. The wind power plant boasts of the largest-ever capacity in Scandinavia.
A Korean and German consortium landed the project. Construction lasted about 30 months following a ground-breaking ceremony in July 2019.
KOMIPO, making the most of its renewable energy project construction management capabilities, took over a combined 62 wind power generators last December 14 before the wind farm was put into commercial operation.
KOMIPO successfully landed the follow-up wind power project in Gävleborg, Sweden, as the power company, seizing the Stavro project as a pump-priming in Europe, had been recognized for its renewable energy project development and construction management capabilities.
A ground-breaking ceremony for the latest project took placed last July.
KOMIPO’s agreement on the use of homegrown equipment and raw materials in the latest wind farm project contributed to exporting of Korean-made turbine towers worth 13 billion won.
The latest wind farm project is evaluated to be an example in which major Korean institutions participated as investors or major shareholders in exploring an overseas market.
Following the dedication of the Stavro project, KOMIPO struck a trilateral MOU with Prime Capital, a German asset management company, and RES Renewable Northern, a renewable energy development company in the UK RES group, for a joint development of Nordic onshore and offshore wind projects.
The deal is designed to help KOMIPO diversify its renewable energy portfolio.
As for the implementation of the Stavro wind farm project, KOMIPO has established a two-track strategy to secure capabilities to carry out a whole project process by concentration on the European market, the optimal location for renewable energy development.
To this end, the power company established KOMIPO Europe, a local operation and built a virtuous cycle for the successful implementation of renewable energy projects by dispatching experts with rich experiences for overseas project development and renewable energy facility operation to the local operation.
Domestically, KOMIPO has maxed out values of construction and operation through risk factor diagnosis, analysis and provision of solution according to each project stage by nurturing maintenance and operation manpower via specialized education and technology support using specialized manpower and equipment.