South Korea targets to develop 2.4 GW floating PV

Amsterdam Capital Partners B.V. (Amscap), G8 Subsea Pte. Ltd. (G8), the Saemangeum Development and Investment Agency of Korea (SDIA) and Saemangeum Offshore Wind Power Ltd. (SOWP) have agreed to cooperate in the joint development of renewable energy in the Saemangeum Industrial Complex, located on the west coast of Korea. Plans for the area include 300 MW of offshore wind and up to 2.7 GW of floating photovoltaic located behind one of the world’s largest seawalls. Amscap and G8 will work mainly alongside SOWP in respect of the joint development of offshore wind from respectively a financial and a technical perspective. A 100 MW offshore wind project developed by SOWP is in its final development stage.
Saemangeum Development and Investment Agency is a central government agency of Korea responsible for Saemangeum Project, a grand national development project established in 2013 by executive order. SDIA is in charge of administrative services and support, from Master Planning and Coordination to Investment Attraction and Promotion. Saemangeum is a 409 square kilometers reclaimed area located at the centre of West Coast of Korea with the world’s longest sea wall.

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