South Korea's Public Growth Fund Approves 750 Billion Won for Shinanwooi Offshore Wind Farm
South Korea's Public Growth Fund has approved a 750 billion won investment for the Shinanwooi Offshore Wind Farm, part of a larger initiative to attract 150 trillion won in high-tech investments over five years. The project, valued at 3.4 trillion won, aims to generate 390 MW of electricity, sufficient to power approximately 360,000 households, and is expected to enhance regional economic benefits through a 'wind income' model for local residents. Scheduled for commercial operation by early 2029, the project will also support future infrastructure developments, including a national AI computing center.
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The Public Growth Fund in South Korea has approved its first investment of 750 billion won (approx. US$526.3 million) for the Shinanwooi Offshore Wind Farm, a project valued at 3.4 trillion won. Situated off the coast of Sinan in South Jeolla Province, the wind farm is part of a broader initiative to attract 150 trillion won in investments over five years into high-tech industries.
This project aims to generate 390 MW of electricity, enough to power around 360,000 households, and is expected to be a key infrastructure for future industrial complexes, including a national AI computing center. The investment will facilitate a 'wind income' model for local residents, enhancing regional economic benefits. The project is slated for commercial operation by early 2029, with funding from multiple sources, including the Future Energy Fund, which will provide 544 billion won.
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