Singapore-based developer G8 and Holim Tech have entered into an agreement to develop a 1500MW offshore wind farm in South Korea.
The project will feature an advanced energy storage system with next generation ultra stable lithium ion batteries from G8’s technology partner 3DOM to ensure optimum stabilization and energy management to the grid.
G8 said that once completed the wind farm will be able to power 500,000 homes and businesses with renewable energy.
The developer added that the high voltage subsea power cables will be installed with its precision cable lay and protection technologies to ensure the maximum long term security of the power connection to the grid.
G8 management and key members of Holim Tech all took part in an official signing ceremony as well as an inspection of the construction site and coastal facilities last year.
These facilities will be used for deployment of the project’s wind turbines and will utilize global leading standards while supporting local construction and marine industries, G8 said.
G8 Korea chief operating officer Pascal Cheon said: “We are pleased to initiate the commercial execution of this significant project after detailed evaluation and planning, with local authority permission to proceed.
“The construction and operations of our turbine plant here will also contribute to future job creation.”
Holim Tech vice president Park Geon-Jeong said: “We are absolutely delighted to work with G8 Korea and its Singapore HQ for this development, bringing the much needed marine construction expertise and technical resources to our area of development to ensure sustainable economic developments to our coastal township.”
G8 Group managing director Gerald Tan said: “This marks G8’s continuation of windfarm projects in South Korea after Gochang Phase1 of 60MW in 2017.
“This project will be an important step for both G8 and the South Korean Wind Power industry, as it will be one of the largest offshore wind farm projects in Asia to utilize our next generation energy storage technologies, offering our commercial and utility clients a complete and long-lasting energy storage solution.
“We are very pleased to continue our journey with Holim towards our joint commitment to accelerate renewable energy across the region.”
G8 said that South Korea’s Green New Deal, a development strategy to speed up the post-pandemic recovery and empower its net-zero transition, has pledged to invest €55bn to streamline the country’s transition into renewable energy and develop accompanying clean technologies.
The developer added that the country also intends to increase the power mix from renewables from 6.4% to 20% by 2030.