JEJU-DO < invest Korea

According to Yonhap News,

[JEJU=Yonhap News] Research and development (R&D) projects for installing a wind power generator on semisubmersible buoyant objects on the Sea of Jeju Island are set to start.

Jeju Energy Corporation (JEC) said that it signed a memorandum of understating with POSCO, Hyundai Heavy Industries (HHI) and Halla Wind Power (Korea Wind Energy Industry Association) for ‘R&D for floating offshore wind power system’ at POSCO Center in downtown Seoul on May 26.

The projects will be carried out in two stages.

At its first stage, PPI, an American company, will check and verify windfloat before adapting it to the Sea of Jeju Island. A total of KRW 3 billion will be invested in the stage.

At its second stage, the participating organizations will attach 5.5MW wind turbine to the windfloat, investing KRW 60 ~ 70 billion in the project.

POSCO will manage general process of the projects and change of design in the field. The company will also verify the change.

HHI will develop control technologies of 5.5MW wind turbine and the windfloat.

JEC will choose the best wind turbine test site and request cooperation with relevant agencies. Halla Wind Power will come up with ideas for funds supply.

Jeju University and Ulsan University will jointly analyze features of the windfloat and verify the design. JEC expects the new projects to help establish a large scale wind power complex eco-friendly.

President of JEC Cha Woo-jin said JEC will use this opportunity as a way to notify people that wind in Jeju is public goods and the corporation plans to build 1.65 GW offshore wind power for energy independence.

ksb@yna.co.kr

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Source Text

Source: Yonhap News (May 26, 2014)

** This article was translated from the Korean.