South Korea

Deadline is on 22 November 2024.

The two countries are going to participate in an overseas gas field project.

Some partnerships forged were with Singapore, and Japan.

These will be connected to the utility grid.

This will cover the first and second phase of the Ulsan project.

The International Energy Agency (IEA) has predicted that Artificial Intelligence (AI) and data centers will sharply increase the demand for renewable power. The net increment of renewable power generation for AI will likely triple to 262 terawatt-hours (TWh) by 2026 compared to 2023, and the share of AI demand in renewable power generation is expected to double to 17.9%.

This covers 375 MW of installed capacity.

They also discussed possible nuclear power collaboration.

It acquired shares in West Sea Energy 1 Co., Ltd., which is exploring an offshore wind project.

Semiconductors alone account for over 20% of the country’s exports.

Around 7-8 GW worth of tenders will be launched.

This will contribute to the country’s 2030 renewable energy targets.

It is slightly behind the 32.4% target.

They will jointly work on the project.

It hopes to achieve this by 2030.

Experts believe the government can streamline the process by taking the lead in site designation and subsea surveys.