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South Korea Wind Power Market Analysis

Wind Power in South Korea is being seen as the potential driver of renewable energy development in the country. Electricity generation through wind power has already progressed to significant levels and most of this has been developed onshore. The present onshore capacity installed in South Korea is at more than 480 MW by end of 2012, which is set to expand with many projects awaiting operational and constructional commencement.

The wind power sector in south Korea has been reformed which had stunted the growth a little bit but now with the reforms in place already, the capacity is growing and is expected to take the fast track to growth. To augment the rapid growth of wind energy in the country, the domestic heavy industries have taken upon themselves the onus of manufacturing the wind turbine generators that will reduce the sector's dependence on imports and will also result in the reduction of wind energy production costs. The Feed in Tariff policy of the government has now been replaced by the Renewable Portfolio Standard. The research report points out to the various reasons behind this reform one of which was the low revenue given to wind generated electricity as compared to solar and hydro power.

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Wind power in the offshore region in the country has immense potential owing to the expansive seas at its disposal and this has encouraged many companies to set up wind farms in the region. The private companies are investing huge resources in the process which will later on be retrieved through the high tariff of wind energy and the carbon credits they would receive as part of the renewable portfolio standard policy recently been introduced. Offshore wind is becoming the latest trend all over the world and South Korea is expected to become a major part of the vogue.

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Given the problems cropping up with the onshore wind power development sector in the country, the South Korean offshore sector seems to be more lucrative as of now. Huge investments are being made in projects offshore and considering the expansive potential the country has in this sector, it will certainly attract the largest investment in the future and will be the key driver in developing the South Korea's wind energy.

"South Korea Wind Power Sector Analysis 2013" research report discusses following aspect related to emerging wind power sector in South Korea:

·         Current Sector Trends

·         Onshore & Offshore Wind Potential

·         Wind Power Sector Indicators

·         Operating Wind Farms

·         Future Outlook & Sector Emerging Trends

·         Regulatory & Policy Framework

·         Competitive Landscape

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Table of Contents

1. South Korea Wind Power Sector Landscape



2. Wind Power Resources

2.1 Onshore & Offshore Reserves

2.2 Onshore & Offshore Wind Map by Speed & Density



3. Wind Power Sector Indicators

3.1 Onshore

3.2 Offshore



4. Operating Wind Farms

4.1 Onshore Wind Farms

4.2 Offshore Wind Farms



5. Wind Power Feed In Tariff Structure



6. Wind Turbine Manufacturing



7. Emerging Trends

7.1 United Kingdom and South Korea Alliance for Offshore Wind Power Development

7.2 Rising Investments from Government & Private Sector

7.3 Focus on Clean Energy to Drive Wind Power Installation

7.4 Development of World's Largest Offshore Wind Farm

7.5 Super Sized Ships to Install Offshore Wind Turbines

7.6 South Korean Companies Developing Foreign Wind Farms



8. Wind Power Future Outlook

8.1 Onshore

8.2 Offshore



9. Regulatory & Policy Framework

9.1 Low Carbon, Green Growth Policy

9.2 Renewable Portfolio Standard Energy Policy



10. PEST Analysis

10.1 Political Analysis: Government Investments & Knowledge Sharing Policy

10.2 Economic Analysis: Low Cost Wind Power & Rising Energy Import Bill

10.3 Social Analysis: Increasing Social Acceptance

10.4 Technology Analysis: Transfer of Technology & International Collaborations



11. Competitive Landscape

11.1 Hyundai Heavy Industry

11.1.1 Business Overview

11.1.2 Turbine Portfolio

11.2 Samsung Heavy Industry

11.2.1 Business Overview

11.2.2 Turbine Portfolio

11.3 Daewoo, Shipbuilding & Marine Engineering

11.3.1 Business Overview

11.3.2 Turbine Portfolio

11.4 Doosan Heavy Industry and Construction

11.4.1 Business Overview

11.4.2 Turbine Portfolio

11.5 Unison

11.5.1 Business Overview

11.5.2 Turbine Portfolio

11.6 Vestas Wind Systems

11.6.1 Business Overview

11.6.2 Turbine Portfolio

11.7 Korea Electric Power Corporation

Figure 1-1: Electricity Generation Capacity by Fuel, 2012
Figure 1-2: Share of Renewable Energy in Generation Capacity, 2012
Figure 1-3: Wind Power Capacity Growth in South Korea in Comparison to Asian during 2012
Figure 1-4: Share of Wind Power in Renewable Energy Capacity, 2012
Figure 1-5: On & Off Shore Wind Power Installed Capacity (MW), Feb'2013
Figure 1-6: Number of On & Off Shore Wind Turbines, Feb'2013
Figure 2-1: Onshore & Offshore Wind Reserves (GW)
Figure 2-2: Onshore & Offshore Wind Power Generation Potential (GWh)
Figure 2-3: Onshore Wind Power Potential by Province (GW)
Figure 2-4: Onshore Wind Power Generation Potential by Province (GWh)
Figure 2-5: Offshore Wind Power Potential by Province (GW)
Figure 2-6: Offshore Wind Power Generation Potential by Province (GWh)
Figure 2-7: Onshore Wind Speed Map at 60 Meters
Figure 2-8: Onshore Wind Density Map at 60 Meters
Figure 2-9: Onshore Wind Speed Map at 80 Meters
Figure 2-10: Onshore Wind Density Map at 80 Meters
Figure 2-11: Onshore Wind Speed Map at 100 Meters
Figure 2-12: Onshore Wind Density Map at 100 Meters
Figure 2-13: Onshore Wind Speed Map at 120 Meters
Figure 2-14: Onshore Wind Density Map at 120 Meters
Figure 2-15: Offshore Wind Speed Map at 80 Meters
Figure 2-16: Offshore Wind Density Map at 80 Meters
Figure 2-17: Offshore Wind Speed Map at 100 Meters
Figure 2-18: Offshore Wind Density Map at 100 Meters
Figure 2-19: Offshore Wind Speed Map at 120 Meters
Figure 2-20: Offshore Wind Density Map at 120 Meters
Figure 3-1: Wind Power Installed Capacity (MW), 2001-2012
Figure 3-2: Wind Power Installed Capacity Growth, 2001-2012
Figure 3-3: Wind Power Generation (GWh), 2000-2012
Figure 4-1: Wind Power Installed Capacity by Company (%), Feb'2013
Figure 4-2: Wind Power Installed Capacity by Company (MW), Feb'2013
Figure 4-3: Number of Wind Installed Turbine by Company, Feb'2013
Figure 5-1: Wind Power Tariff (KRW/kWh), 2010 & 2011
Figure 7-1: Renewable Energy Capacity Target (GW), 2012-2022
Figure 7-2: Wind Power Capacity Target (GW), 2030
Figure 8-1: 3rd Renewable Energy Supply Plan Targets for Wind Energy (GWh), 2015, 2020 & 2030
Figure 8-2: Wind Power Installed Capacity (MW), 2013-2018
Figure 8-3: Offshore Wind Power Installed Capacity Target (MW), 2013, 2016 & 2019
Figure 9-1: Renewable Portfolio Standards (RPS) Quota, 2012-2022

List of Tables

Table 4-1: Operating Wind Farm by Capacity (MW), February'2013