Construction of World's Largest Tidal Power Plant Under Way in South Korea

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Researched by Industrial Info Resources (Sugar Land, Texas)--On April 2, 2008, Lunar Energy Limited (Hessle, England) and Korea Midland Power Company Limited (KOMIPO), a spin-off of Korea Electric Power Corporation (NYSE:KEP) (Seoul, South Korea), signed a memorandum of understanding to begin development and construction on the world's largest tidal-power scheme. Construction of the $600 million Wando Hoenggan Waterway Tidal Plant is already under way off the southern coast of South Korea and is scheduled for completion in January 2015. Once operational, the facility will supply 300 megawatts (MW) of renewable energy to the region.

Known for its considerable expertise in underwater engineering and fluid dynamics, Lunar Energy associate Rotech Engineering Limited (Aberdeen, Scotland) will provide design optimization and specialist components for the project. Lunar Energy has a worldwide in-perpetuity license to exploit the commercial use of the Rotech Tidal Turbine (RTT) technology, a design patented in the U.K. by Rotech. Under the April 2008 agreement, Hyundai Samho Heavy Industries, a subsidiary of Hyundai Heavy Industries Company Limited (SEO:009540) (Ulsan, South Korea), was selected to handle the fabrication and installation of 300 RTTs, each with generating capacities of 1 MW.

Tidal energy is still a relatively unexplored source of renewable energy. Tidal mills have been used since the Middle Ages, but it was not until the 1960s that the first tidal power plant began operating. Though more predictable and stable than wind power, tidal generation was generally curbed because of high costs and limited areas of operation. In recent years, advances in underwater technology and turbines, such as those designed by Rotech, have brought about renewed interest in tidal power generation.

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