By 2020, Jeju Energy Corporation (JEC) is expanding its currently-operating wind power generating facilities on Jeju Island.
The JEC is planning to construct offshore wind power generation complexes to produce 100MW in optimal conditions and achieve a carbon-free Jeju Island.
A total of 725 billion won (US$672.54 million) will be invested in the project, 175 billion won (US$162.34 million) for land-based facilities and 550 billion won (US$510.2 million) for offshore facilities. The planned infrastructure is expected to produce 591,300MWh of electricity every year and make profits of 157 billion won (US$145.64 million). Everything is expected to be completed by 2020, including the offshore wind power generating facilities.
Also, it is likely to reduce carbon dioxide emissions by 272,000 tons annually, which is the equivalent of 101,000 Hyundai Sonatas driving 15,000 km each.
The JEC is also planning to develop 1855MW wind farms on land and at sea by 2030, establishing the foundation to become the environmental capital of the world.