The outlook in Korea is certainly one of keen interest in renewable energy and in ocean energy in particular. That interest is focussed chiefly on the West coast (Yellow Sea) where there are very high tides and strong tidal streaming. S Korea has the World’s largest tidal plant at 254 MW and two more in the planning stage.
Despite being surrounded by a poor wave climate there is a 500kW Oscillating water Column WEC off Jeju Island that commenced operation last year. Don’t know how well that will work.
All this indicates is that there is expertise and a fierce go-get’em mind set in Korea. Nothing new. It may be that the Korean partner is only interested in the opportunity to develop at home at then export the product. Now, where else is that same technique being employed?
Juke
CWE Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
