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Home  > Research Focus  >  Emerging Renewable Power Markets  >  Lunar Energy Catches Rising Tide in South Korea

Lunar Energy Catches Rising Tide in South Korea

May 5, 2008

With limited renewable resources and high exposure to natural gas and coal, Korea's power industry has for over a decade looked, with limited success, to tidal energy as a partial solution. The most recent project announcement-Korea Midland Power's 300 MW tidal current project from UK start-up Lunar Energy-marks a significant shift in that it embraces a foreign technology already under commercial development. Korea is hoping to establish a comparative advantage in tidal technology, drawing on its substantial industrial base, but commercializing experimental technology has yet to bear fruit. With more than 3.3 GW of tidal current and barrage projects planned along the south and west coasts, this new approach, if successful, may open the door for other tidal turbine technologies looking to scale.

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