Wind power in South Korea
End 2002 : 16 MW
End 2003 : 19 MW
End 2004 : 23 MW
End 2005 : 119 MW
End 2006 : 176 MW
End 2007 : 192 MW
End 2008 : 278 MW
The complex will be used to track system records of domestically manufactured wind power generators capable of producing 2 megawatts each. In order to commercialize wind power generators, developers need to prove operational records of generators to buyers.
The committee said it is also looking into creating a large wind farm on the ocean along the west coast. The complex would cost 400 billion won ($322.8 billion) and generate 100 megawatts of electricity. It is scheduled for completion by 2014.
The government also said it will expand the local solar energy market by 100 megawatts by 2011. That amount could power about 33,300 households.
The government plans to accomplish this through the application of the Renewable Portfolio Standards, which oblige energy suppliers to provide a certain percentage of their electricity from renewable sources. The standards will be mandatory in 2012, but companies that adopt them earlier will receive benefits.
The Korea Development Institute is currently studying feasibility of the Saemangeum wind power project. As soon as the KDI completes the research, the ministry will set up detailed plans in cooperation with the Finance Ministry next year.
The government plans to adopt a Renewable Portfolio Standard in the next three years. Under the RPS rule, power companies have to produce 3 percent of their electricity from renewable sources. To encourage solar energy businesses, a set amount of that 3 percent will have to be in the form of solar power.
Renewables must make up 10 percent of supply by 2020. The mandatory system – already adopted in some countries – imposes penalties if power companies fail to meet the standard.
ACCIONA completes the first wind park built by a Spanish company in South Korea
ACCIONA has completed the grid connection of the 61.5 MW Yeong Yang wind park in South Korea. It is the first facility of its kind built by a Spanish company in that country and represents an investment of around 100 million euros.
The facility, located in the region of North Gyeongsang, has forty-one 1.5 MW wind turbines manufactured with ACCIONA Windpower technology, with a tower height of 80 metres and a rotor sweep diameter of 77 metres. The assembly and commissioning of the turbines began in the second half of 2008 and the process was completed this week with the grid connection of the last wind turbine.
Under the CDM of the Kyoto Protocol
The Yeong Yang windpark, 100% owned by ACCIONA, was registered by the United Nations as a project under the Clean Development Mechanism (CDM) in February this year. This registration is for a period of ten years, during which time the facility will avoid the emission of 1.11 million metric tonnes of CO2 (112,812 tonnes a year). ACCIONA will obtain Emission Reduction Certificates for this, which it can then sell on the emission trading market.
It is ACCIONA’S second such project to qualify under the CDM þutwo other wind parks are already operational (29.7 MW) in the region of Karnataka (India).
The CDM is one of the flexible mechanisms under the Kyoto Protocol for the reduction of emissions. Its aim is that public or private entities should carry out projects in developing countries that contribute to sustainable development there and an overall reduction in greenhouse gas emissions.
Companies or other entities taking part in the scheme receive Emission Reduction Certificates (ERCs), which can then be sold in industrialised countries to ensure compliance with the commitments acquired in the reduction of emissions.
The trading of ERCs on the emissions market guarantees the economic viability of projects, thus encouraging sustainable development initiatives in the countries receiving the investments.
Corporate information
ACCIONA Energy is a world leader in renewable energies, having installed more than 6,000 MW of wind power capacity in 208 wind parks in 14 countries. It also manufactures wind turbines using proprietary technology. It has CSP and photovoltaic plants, small hydro power stations and biomass plants, plus biodiesel and bioethanol production facilities.
ACCIONA Energy is part of the ACCIONA Group, one of the main Spanish corporations with activities in over 30 countries on the 5 continents in the fields of infrastructures, energy, hydropower and services, with revenues of 12.67 billion euros in 2008. ACCIONA’s workforce numbers over 41,000 and the group is listed on the selective Spanish IBEX-35 (ANA.MC) stock market index.
