Seoul: South Korea is set to dramatically expand its offshore wind power generation capacity by more than tenfold, targeting 4 gigawatts (GW) by 2030. This ambitious plan aims to lower generation costs and bolster the use of eco-friendly energy, as announced by the climate industry.

According to Yonhap News Agency, the plan was unveiled during a meeting of an intergovernmental task force focused on accelerating offshore wind power deployment. The Ministry of Climate, Energy and Environment outlined the country's strategy to build port infrastructure and other facilities necessary to increase yearly power generation capacity from the current 0.35 GW to 4 GW within the next five years. The long-term objective is to achieve an accumulated 25 GW of offshore wind power by 2035.

The government is also committed to reducing the cost of energy generation to 250 won (US$0.17) per kilowatt-hour (kWh) by 2030, with a further reduction to 150 won per kWh by 2035. To support this effort, the government plans to release a road map for new offshore wind farm project bids in the first half of next year.

Additionally, support will be extended for the development of 20-megawatt (MW) turbine technologies and a demonstration facility with a testing capacity of 100 MW. Climate Minister Kim Sung-hwan emphasized the importance of offshore wind power as a critical driver for Korea's carbon-neutral growth, energy security, industry, exports, and job creation, declaring it an essential path forward for the nation.