Project Development, Wind Power

Wind Power to Evolve in Korea & China

[RenewableEnergyAccess.com] To expand in Asia’s energy market, Korea Electric Power of South Korea will invest in a $57.5 million wind power facility in Gansu province of northern China with China Datang Corp. Korea Electric, the first foreign company to participate in a wind power plant in China, will take a 40 percent stake and become the second-largest shareholder of the venture over 20 years. China Datang will own the rest of the 49,000 kW facility. With China’s economic growth averaging 8.7 percent in the past decade, electricity demand exceeds its generating capacity, causing its third year of power shortages. The country may have 25,000 MW less than it needs when demand peaks this year. Separately, China Datang said it was investing about $989 million to build a wind power project in Inner Mongolia.