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South Korea's wind capacity to exceed Japan's by 2033
The country’s wind installation is expected to reach 13.1 GW.
South Korea’s wind capacity will surpass Japan by 2033 to reach 13.1 gigawatts (GW) on the back of its stronger project pipeline.
In a report, BMI noted that South Korea has an installed wind capacity of 2.2 GW as of 2023, whilst Japan has 4.9 GW.
With its current pipeline, Japan is only expected to reach 11 GW in 2033.
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“Development in the global wind power sector has accelerated in the past decade, with technology and efficiency advancements supporting strong wind power market growth. We believe these technological improvements will drive the further development of wind sectors in South Korea and Japan,” the BMI report read.
BMI added that the advancements resulted in larger and more efficient wind turbines.
Cost pressures from metals will remain but BMI expects this barrier to ease over the medium to long term, further boosting the net capacity additions in the wind power sector.
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