OMNI Features｜Egypt Considers Floating Solar to Achieve 45 GW Renewable Energy Target．AL Energy Publishes Study on South Korea's Offshore Wind Project Completion Timeline and Cumulative Installation Forecast．BOEM Releases Final EIS for Maryland Offshore Wind Project

｜Egypt Considers Floating Solar to Achieve 45 GW Renewable Energy Target
Mahmoud Esmat, the newly appointed Minister of Electricity and Renewable Energy, stated that Egypt plans to achieve 45 GW of renewable energy capacity. In addition to ongoing and future projects, new initiatives such as floating solar are also being considered to meet this target. Currently, Egypt's total operational renewable energy capacity is approximately 4.6 GW, primarily sourced from wind and solar power, while hydropower capacity reaches 2.83 GW.

Esmat highlighted during a cabinet meeting that ongoing projects are expected to be completed by the summer of 2025 and will be operational by 2026-2027. Dubai-based renewable energy developer AMEA Power plans to connect 2,000 MW of renewable energy capacity to the Egyptian grid by the same timeframe. Esmat emphasized the importance of the Egyptian-Saudi interconnection project and stressed the need for cooperation with Saudi Arabia to ensure the grid connection between the two countries by next summer.

｜AL Energy Publishes Study on South Korea's Offshore Wind Project Completion Timeline and Cumulative Installation Forecast
Renewable energy consultancy AL Energy recently published a study in the Journal of New and Renewable Energy, forecasting the cumulative installation volume of offshore wind power in South Korea. According to the study, the total capacity of approved power projects is expected to reach 27 GW and commence operations by 2035, a delay of 4 years from the original 2031 target.

Using its proprietary Geographic Information System (GIS) platform, AL Energy analyzed and predicted domestic offshore wind power projects' development status and completion timeline as of this year, calculating delays for multiple projects using real-time public data.

The study indicates that environmental impact assessments, maritime traffic, military operations, and the power system are the primary causes of delays, with most projects expected to be delayed by at least three years. According to AL Energy's model, the installed capacity of domestic offshore wind power will reach 10.5 GW by 2033, 3.8 GW short of the 14.3 GW target set in the 10th Long-term Electricity Supply and Demand Basic Plan for 2030, with a three-year delay. Despite not accounting for internal and supply chain issues, this study provides crucial data for the domestic offshore wind power market. AL Energy plans to refine its forecasting model further and present its findings at the upcoming Asia-Pacific academic conference.

｜BOEM Releases Final Environmental Impact Statement (EIS) for Maryland Offshore Wind Project
The Bureau of Ocean Energy Management (BOEM) announced on Monday (29th) the availability of its final Environmental Impact Statement (EIS) for US Wind's Maryland Offshore Wind Project. US Wind is seeking approval for the Maryland Offshore Wind Project, which includes 3 phases, with MarWin and Momentum Wind having received the Offshore Renewable Energy Certificate (OREC) from the State of Maryland.

In June 2022, BOEM held 3 public scoping meetings to solicit public comments, and conducted 2 in-person and 2 virtual public meetings in October 2023 to gather feedback from tribes, local communities, commercial fishing interests, and other ocean users on the draft EIS. If approved, the project will install up to 114 turbines, 4 offshore substation platforms, 1 meteorological tower, and 4 offshore export cable corridors, which will land at Delaware Seashore State Park.

Reference:Energy Box ｜Marine Link｜Energy Times