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Offshore Wind Power Emerges as Doosan Heavy’s New Growth Engine

2020. 07. 19

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- Offshore wind power to be the main eco-friendly energy business of the future…Aggressive marketing pursued in line with Korean government’s Green New Deal initiative

  • □ Doosan Heavy Industries & Construction is preparing to penetrate in full force the market for offshore wind power generation as its new growth engine.

  • □Doosan Heavy began the development of wind power technology in 2005, and since then, it has accumulated the related technologies and numerous reference projects. It now remains as the sole manufacturer of offshore wind turbines in Korea. The company currently has under its belt as reference projects 79 wind turbines with a total capacity of about 240MW nationwide, including those installed on the Jeju Island and West Sea. Offshore wind turbines with a combined capacity of about 96MW, including the 60MW Offshore Demonstration Wind Farm in Korea’s Southwestern region and the 30MW Tamra Offshore Wind Farm in Jeju Island, are all products of Doosan.

  • Growing market further supported by the release of “Offshore Wind Power Development Plan” to install 12GW by 2030, following installation of the 2.4GW offshore wind farm in Korea’s Southwestern region

  • □Wind power is the focus of attention these days, as it has been recognized as constituting a crucial part of the Green New Deal initiative that was recently released by the Korean government. On July 17th, the Ministry of Trade, Industry and Energy (MOTIE), North Jeolla Province municipal government and regional leaders signed a MOU on the delivery of a large-scale offshore wind farm project in North Jeolla Province of Korea’s Southwestern region for the purpose of promoting mutual growth.

  • □The project involves constructing a large-scale offshore wind farm with a total capacity of 2.5GW, including a 400MW demonstration complex and a 2GW expanded complex along the coast of Gochang County and Buan County in North Jeolla Province. The project, valued to be 14 trillion won, is scheduled to be completed by 2029. Prior to embarking on the aforementioned demonstration complex, Doosan Heavy had supplied 20 units of 3MW wind turbines to use in a separate 60MW demonstration.

  • □The government also announced the “Offshore Wind Power Development Plan,” which includes the plan to construct offshore wind farms with a combined capacity of 12GW by 2030. The project is expected to help with newly obtaining within Korea an annual offshore wind power supply of about 1.2GW by 2030.

  • Plans set to make wind power a business with an annual sales record of 1 tln won by 2025 … To take the lead in promoting the offshore wind power industry

  • □Doosan Heavy plans to grow the offshore wind power business so that it may become a business that records annual sales of more than one trillion won by 2025. The company is stepping up its efforts to transform its business portfolio to be more environment-friendly in line with the government’s energy transition policy. Offshore wind turbines, along with large-size gas turbines for power plants, are fast becoming Doosan Heavy’s key products.

  • □The company also plans to lead the efforts for promoting Korea’s offshore wind power industry. Doosan has invested a sum of about 180 billion won since first initiating development of wind power technology in 2005, and it plans to further expand its investments in R&D and production facilities to meet the growing requirements of the domestic market.

  • □About 70 percent of the parts used by Doosan in the wind turbines are locally manufactured. More than 400 Korean SMEs are participating in the production by supplying key components, such as the turbine blades and towers. It is expected that this will have a huge beneficial effect of helping with the creation of more jobs. It is estimated that that the annual production of a 1GW wind turbine will equate to the direct hiring of about 1,000 persons and the creation of about 17,000 jobs when including vendors.
    (Reference: Presentation Material for ‘Forum on Employment Policy in the Era of Energy Transition,’ May 2018)
    “We expect that the domestic offshore wind power market will grow rapidly following the release of the government’s Offshore Wind Power Development Plan” said Geewon Park, Doosan Heavy’s Chairman and CEO. He added, “As the leading Korean company in the offshore wind power sector, we intend to actively participate in the Green New Deal initiative and contribute to promoting the growth of the domestic offshore wind power market.”

  • Sole Korean company with track record in wind power … In possession of a wide range of models suitable for the domestic environment

  • □Doosan Heavy is the only Korean company that has domestic reference projects for offshore wind power generation. The company possesses the capability and experience that enables it to competently cover the entire project scope, ranging from design & engineering, product supply and installation, commissioning to operation & maintenance of offshore wind farms. The company was able to prove that the offshore wind power generation business is also feasible in Korea by successfully completing the construction of the Jeju Tamra Offshore Wind Farm in 2017.

  • □Doosan Heavy owns offshore wind turbine models that can be utilized in various ways that are suitable to Korea’s typical low-wind velocity environment. The company developed Korea’s first 3MW offshore wind turbine and received international certification for it in 2011, and also received international certification for its 5.5MW offshore wind turbine in July last year. In November last year, Doosan was selected as the preferred bidder for the 100MW Jeju Hallim Offshore Wind Farm project with its 5.5MW model.

  • □The company began development of an 8MW large-capacity offshore wind turbine as a government-backed project in 2018, and this is scheduled to be completed by 2022. The product has been designed to maintain at least a 30% utilization rate even in an environment with a relatively low average wind velocity of 6.5m/s, which is the typical wind speed in Korea. The Korean government’s Green New Deal initiative is expected to lead to the delivery of more offshore wind farm projects suitable to Korea’s low-wind velocity environment.

  • □Doosan Heavy is also leading the efforts for digital transformation of the wind power generation business. The company developed Wind Supervision, an ICT-based integrated monitoring system, which can be used to monitor the energy generation amount and operational status of wind turbines, as well as assess the status of devices in real time. It also developed the Power-up Solution to provide optimal power generation suited to the wind velocity and the smart maintenance system to help enhance the business competitiveness. Doosan is currently working on the development of various digital solutions, including an AI-based failure diagnosis system.

Panoramic view of Korea’s first offshore wind farm, the 30MW Tamra Offshore Wind Farm
Korea’s largest offshore demonstration wind farm, located in the Southwestern region, with an installed capacity of 60MW.