"Under the “Renewable Energy 2030” vision, Korea aims to achieve 20% of renewable energy share in power generation by 2030."

The global offshore wind power market is growing rapidly. According to the Global Wind Energy Council, the global offshore market has grown on average by 24% each year since 2013 and in particular, 6.1GW of new offshore wind power capacity was added in 2019. (Total installations: 29.1 GW as of 2019).

Climate change and energy transition are top priorities for the Korean government. The Korean government announced the “Renewable Energy 2030” vision in 2017 and the “2040 Energy Transition” policy in 2019 and the “Net Zero (Carbon Neutrality) by 2050” vision in 2020, setting a low carbon economy as a top priority for Korea. Under the “Renewable Energy 3020” vision, Korea aims to achieve 20% of renewable energy share in power generation by 2030. To achieve the vision, 16.5 GW of wind power will be added to the grid by 2030 and 13 GW will be installed with offshore wind.

The World Bank Energy and Extractives Global Practice, the World Bank Group Korea office and the Korea Institute of Energy Technology Evaluation Planning (KETEP) have organized this webinar to introduce Korea’s offshore wind power policy and technologies.  Experts from the Korea Institute of Energy Research (KIER) discuss relevant technology policies; Korean private companies introduce their experience with offshore wind power projects and the World Bank expert presents the Bank’s global offshore wind power programs.