2023-11-23 09:36:36
Wind Industry Association, Renewable UK and supply chain collaboration MOU
UK plans to provide 260 billion won in subsidies for floating offshore wind power
[에너지신문] The wind power industries of Korea and the UK have joined hands to expand the offshore wind power supply chain. The British government plans to provide subsidies of up to 260 billion won for the creation of floating offshore wind farms, which are expected to be an opportunity for the growth of Korea’s wind power industry.
The Korea Wind Power Industry Association signed an ‘Offshore Wind Power Supply Chain Collaboration MOU’ with Renewable UK at Mansion House in London on the 23rd (local time). This agreement was carried out during President Yoon Seok-yeol’s state visit to the UK, which marked the 140th anniversary of the establishment of diplomatic relations.
▲ Minister of Trade, Industry and Energy Bang-gyu Bang (from the right), Wind Power Industry Association Chairman Park Kyung-il, RenewableUK CEO Dan McGrail, and British Minister of Trade, Industry and Energy Kemi Bednock are taking a commemorative photo.
RenewableUK is a representative association responsible for the overall renewable energy industry, including wind power, wave power, and tidal power generation. It currently has regarding 450 member companies and supports the distribution and export of renewable energy in the UK.
Through this MOU, the Wind Power Association and RenewableUK decided to build a strong relationship and cooperate to promote trade in the wind power industry and form a supply chain between Korea and the UK. They also agreed to work actively to expand mutual investment and technological cooperation between the two countries and to provide opportunities to exchange projects between companies.
The UK is a global powerhouse with an installed offshore wind power capacity of 13.9GW as of July this year. We have set a policy to increase offshore wind power to 50GW by 2030, and are actively encouraging the participation of not only domestic but also overseas companies in the process of building a supply chain.
In particular, companies are drawing attention as plans are being made to provide subsidies of up to 260 billion won for the creation of floating offshore wind power complexes.
The association expects that through this MOU, exchanges with the UK, an advanced wind power country, will be revitalized and domestic companies’ entry into the UK market will increase.
Park Gyeong-il, President of the Wind Power Industry Association, said, “There are many areas where we can win-win by joining hands with the UK, an advanced wind power country, at the level of the industrial supply chain.” He added, “As the importance of the wind power supply chain is emphasized amid the challenge of carbon neutrality, the Association has signed this MOU. He emphasized, “We will come up with ways to further strengthen the cooperation between the two countries’ wind power industries.”
Dan McGrail, CEO of RenewableUK, said, “Through this agreement, we will provide tangible and practical benefits to both association members and stakeholders. In addition, the signing of this MOU will help our two association members strengthen their positions as leaders in the renewable energy sector.” “It will happen,” he said.
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