Offshore Wind Stars in New South Korea-Denmark Bilateral Agreement

Denmark and South Korea have entered into a renewable energy cooperation agreement that particularly focuses on offshore wind.

The agreement was signed on 1 November between Sung Yun-mo, South Korea's Minister of Trade, Industry and Energy and Lars Christian Lilleholt, Denmark's Minister of Energy, Utilities and Climate, who is leading a Danish delegation attending the 8th Korea-Denmark Green Growth Alliance Conference in Seoul.

The two countries will cooperate on the development of energy policy and regulations for renewable energy in South Korea, with a special focus on offshore wind, and further involving onshore wind, solar energy and energy storage.

This move will also enable working on joint projects in the field of renewable energy between Korea and Denmark, joint technology development, and joint entry into third countries, according to information on South Korea's Ministry of Trade, Industry and Energy's website.

Furthermore, the agreement sets the stage for mutual delegation visits, seminars, workshops and meetings where experts can share experiences, know-how and knowledge, which will benefit both countries. Namely, this bilateral deal creates export opportunities for Danish companies in South Korea, as they will have the chance to present their competencies and solutions for Korean energy politicians at both national and local levels.

According to the Danish Ministry of Energy, Utilities and Climate, South Korean President Moon Jae-in had stated that the country has to increase its share of renewable energy to 20% by 2030. This corresponds to an expansion of renewable energy of 48.7GW, including 16.5GW in wind energy, which is more than three times Denmark's total wind capacity (5.3GW in 2017).

To remind, South Korean President Moon recently announced a 4GW solar-offshore wind complex that will be built at the centre of the Saemangeum reclaimed land area in Gunsan, Jeollabuk-do Province. The complex will comprise a 3GW floating solar farm combined with a 1GW offshore wind farm near Gunsan, local media reported.

Offshore WIND Staff