SK Engineering & Construction Co. plans to build South Korea’s biggest offshore wind farm at a cost of as much as 800 billion won ($726 million).
The wind energy plant will begin commercial operations in 2017.
The unit of South Korea’s third-biggest industrial group plans to install 28 seven-megawatt wind turbines 2.5 kilometers (1.55 miles) off the coast of Ulsan, 280 kilometers east of Seoul, the company said in an e-mailed statement today.
SK has teamed up with Kepco Engineering & Construction Co. (052690), a unit of the nation’s only electricity distributor, to submit a construction proposal to the Ulsan Metropolitan City this month, the Seoul-based company said.
If approved, construction would start in 2015. The 196- megawatt wind farm will be capable of generating electricity equivalent to a year’s consumption by 100,000 households, according to the statement.