South Korea harnesses European expertise to achieve sustainable energy growth

Based on data provided by the Global Wind Energy Council (GWEC), renewable energy sources are projected to constitute 27.3% of Korea’s overall power capacity by 2030. This represents a substantial surge, almost tripling from the current 9.7% as of this year. The ambitious growth trajectory underscores South Korea’s commitment to transitioning towards cleaner and more sustainable energy solutions in the coming decade.

Despite being an emerging market with a 142 MW operational capacity in Korea, local players lack extensive experience when it comes to offshore wind project development. There is strong interest within the Korean offshore wind market to assess potential risks across various development stages, encompassing both technical and commercial aspects. Additionally, there’s a desire to learn effective risk reduction strategies and proactively prepare mitigation plans by drawing insights from more mature markets. Utilizing benchmarking projects, including both failures and successes, can serve as a valuable tool to underscore the necessity of collaboration with experienced partners, such as those from Denmark.

As a result, Korea’s ambitious renewable energy expansion plans and eagerness to learn from more experienced players has attracted the involvement of Danish and European entities into the Korean offshore wind market. These actors bring with them considerable experience and technology in the offshore wind sector, positioning themselves strategically to contribute to South Korea’s renewable energy expansion plans. This collaboration is poised to catalyze advancements in offshore wind infrastructure, fostering innovation and driving economic growth while reducing reliance on traditional fossil fuels.

Joining the delegation allowed ENABL to demonstrate how we can enhance Korea’s upcoming offshore wind project installations. As a company that specializes in installation equipment and tagline systems, it was important for ENABL to present the Korean offshore wind market with the same cutting-edge tools and resources utilized in Europe for optimizing installation processes. With 24 years of experience, ENABL possesses the expertise and know-how regarding these types of installations – an area where Korea may currently lack sufficient knowledge. ‘‘Our goal is to guide the Koreans away from common beginner mistakes, thereby reducing costs and mitigating risks associated with offshore installations. Opting for ENABL enables them to utilize products that optimize their installations while drawing on our broad knowledge and expertise. Participating in this delegation, I witnessed a strong interest in our capacity to assist with their domestic market’’, says Brian Marcimak, Sales Director at ENABL.

Forging partnerships and gaining key insights in South Korean offshore wind market

Participating in the delegation allowed ENABL to connect with South Korean counterparts and build partnerships with local stakeholders. Additionally, ENABL gained insights into the current landscape and policies of offshore wind energy projects in South Korea. ‘‘Engaging with representatives from the strong local supply chain in South Korea was such an educational experience. This experience not only expanded our understanding of the dynamics within the South Korean offshore wind market, but also equipped us with crucial insights to enhance our competitive edge in this promising industry’’, says Brian Marcimak.