The Ulsan floating offshore wind farm, collectively pursued by home and worldwide power corporations, has develop into the primary in Korea to cross maritime site visitors security evaluation. This comes 19 months after operators submitted their utility to the federal government in April of final yr. Following the federal government’s affirmation of the 2035 Nationally Decided Contribution (NDC) goal for greenhouse fuel discount and acceleration of next-generation offshore wind initiatives, the transition to renewable power is predicted to achieve momentum. Whereas floating offshore wind requires increased building prices in comparison with onshore wind or standard offshore wind, it calls for superior know-how, offering vital alternative for Korea, a latecomer in renewable power, to meet up with frontrunners comparable to China.
Based on related ministries on Nov. 18, the Ministry of Oceans and Fisheries issued a “conditional approval” determination on Nov. 10 for the maritime site visitors security evaluation submitted by operators collaborating within the Ulsan floating offshore wind farm growth, together with the Firefly challenge.
A authorities official defined, “After requesting supplementary supplies from operators thrice and conducting ultimate evaluation by non-public consultants, the matter has been settled.” This was achieved as either side discovered frequent floor in a framework the place fishermen chorus from fishing actions within the floating offshore wind farm space whereas operators compensate for the ensuing financial losses.
The Ulsan floating offshore wind farm challenge entails setting up the world’s largest floating offshore wind farm within the unique financial zone (EEZ) roughly 60-100 kilometers east of Ulsan. The whole challenge price quantities to roughly 42 trillion gained, with whole put in capability reaching 6.2GW, equal to 6 giant nuclear reactors. Home and worldwide corporations together with Equinor and Korea Hydro & Nuclear Energy have fashioned consortiums to pursue 5 initiatives—Firefly, Hae-ul, and Sperm Whale—throughout 5 designated areas.
This determination attracts consideration because it represents Korea’s first maritime site visitors security evaluation for a floating offshore wind farm. Floating offshore wind is an influence technology technique that produces electrical energy by putting in wind generators on constructions floating in deep waters removed from shore. It affords the benefit of enabling deep-sea set up with out requiring fastened foundations on the seabed, whereas using areas with sturdy and steady winds. It additionally offers the good thing about large-scale manufacturing of extremely environment friendly electrical energy by way of quicker winds in comparison with onshore wind and traditional nearshore offshore wind. Nonetheless, home initiatives have confronted delays as a result of stringent evaluation requirements utilized due to the shortage of precedent in Korea. The Firefly challenge confronted a disaster the place the ultimate contract may fail regardless of securing rights to promote electrical energy at fastened costs for 20 years.
The offshore wind business is being attentive to the federal government’s direct involvement in mediating between operators and fishermen, regardless of earlier hesitation as a result of excessive prices. The federal government has dedicated to decreasing greenhouse fuel emissions within the energy sector by no less than 68.8% in comparison with 2018 ranges to attain the 2035 NDC goal. This requires quicker deployment of renewable power than beforehand deliberate. The conclusion seems to be that even floating offshore wind, which carries comparatively excessive enterprise dangers and powerful stress for electrical energy charge will increase, have to be actively adopted. An business official famous, “Floating offshore wind is projected to succeed in 20.5GW globally by 2035, however as a result of price and technical challenges, it’s simply starting to emerge. Daring funding and help are essential at this level when the know-how hole with main nations just like the UK has not widened considerably.”
The influence of this determination on Ulsan’s designation as a distributed power particular zone can be drawing consideration. The Ministry of Local weather, Vitality and Surroundings just lately made a ultimate determination to postpone designating Ulsan as a distributed power particular zone. Such designation would offer regulatory exemptions permitting direct electrical energy buying and selling with out going by way of Korea Electrical Energy Corp., enabling energy mills to enter the electrical energy gross sales market straight whereas corporations obtain energy provide at decrease charges. The federal government’s postponement of Ulsan’s distributed power particular zone designation reportedly stems from liquefied pure fuel (LNG) being the first power supply. Nonetheless, analysts counsel that the full-scale growth of offshore wind initiatives may speed up the particular zone designation.
