SEOUL — South Korea has unveiled a $43.2 billion plan to build the world's largest wind power plant by 2030 as part of efforts to foster an environmentally friendly recovery from the COVID-19 pandemic.

The project is a major component of President Moon Jae-in's Green New Deal, initiated in 2020 to curb reliance on fossil fuels in Asia's fourth-largest economy and make it carbon neutral by 2050.

The plant will be located in the southwestern coastal town of Sinan. The planned maximum capacity of the plant is 8.2 GW, which amounts to the energy produced by six nuclear reactors.

The project partner companies include Korea Electric Power, SK E&S, Hanwha Engineering & Construction, Doosan Heavy Industries & Construction, CS Wind Corp and Samkang M&T.

The companies will provide $42,3 billion of the required funding and the government the remaining $0,9 billion, Moon's office Blue House said in a press release.

To date, the world's largest offshore wind farm is the 1.12 GW Hornsea 1 in Britain.

Source: Reuters