OMNI Features｜S.Korea Councillor Express Concerns over Chinese Investment in Domestic Offshore Wind Industry．GDG Enters Indian Offshore Wind Partnership with Aban Power

｜South Korean Councillor Express Concerns over Chinese Investment in Domestic Offshore Wind Industry
Korea Councillor Gu Ja-geun said that if the government cannot prevent bypassing Chinese investment in capital procurement and equipment supply, trillions of won in subsidies will go overseas.

Koo Jae-geun (People's Power Party, Gumi City, Gyeongsangbuk-do, National Assembly Committee for Small and Medium-sized Enterprises, Industry, Trade and Resources) said in a May 22 press release stating that "As this situation increases, the possibility of Chinese capital indirectly investing in the domestic offshore wind power market also increases," he added, "It is imperative to formulate measures to protect national security and prevent the collapse of domestic industry,"

According to the "Estimate of Government Subsidies for Offshore Wind Power" submitted to the Office of Rep (House of Representatives) by the Korea Offshore Grid Industry Association (KOGIA) and other related organizations, the government subsidy for offshore wind power in Sichido Island of Tongyeong City is 110 billion won per year based on 384 MW of power generation, and a total of 2.2 trillion won is expected to be distributed over the 20-year subsidy period.

The problem is that the inflow of Chinese money and equipment is being confirmed. With the solar industry ecosystem being taken over by China becoming a given fact, there is a growing sense of danger that offshore wind will also be taken over.

According to the "10th Power Supply and Demand Plan" being implemented by the Ministry of Trade, Industry and Energy, the government subsidy will be increased to about 82 trillion won, as an additional 14.3 GW of offshore wind power is planned to be installed. Considering that the wind speed is stronger than onshore, the power generation efficiency of offshore wind power is expected to exceed 30%, and the forecast that the state subsidy will increase to 153 trillion won has also been strengthened.

｜GDG Enters Indian Offshore Wind Partnership with Aban Power
Venterra's Gavin & Doherty Geosolutions (GDG) has formed a partnership with Aban Power, focusing on the development and implementation of offshore wind projects in India and the Asia-Pacific region. This alliance will combine the expertise and resources of both companies to support India's ambitious goal of achieving 500GW of renewable energy capacity by 2030. Indrasenan Suchyanthan, Venterra's Global Offshore Director, stated that this partnership aligns perfectly with their strategic vision to expand Venterra Group's operations in India and the Asia-Pacific region.

Srijith Menon, Head of Green Business at Aban Power, added that this collaboration will lead India's offshore industry and make significant contributions to the country's renewable energy goals.

Reference: DailyDGNews｜renews.biz