Isra-Mart srl:Samsung sets sights on Macedonian wind farm

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Isra-Mart srl news:

Samsung Heavy Industries (SHI), South Korea's third largest shipbuilder, is set to join with the Korea South-East Power (Kosep) to build a 100MW wind farm in Stip, Macedonia.

According to local press reports, SHI and Kosep, a unit of the state-run Korea Electric Power, will fund about 51 per cent of the $208m (£134m) project, with the remainder to be financed by the Macedonian government and the European Bank for Reconstruction and Development (EBRD).

Forty wind turbines with maximum power of 2.5MW will be constructed next August at four locations.

The facility, which is expected to be completed by the end of 2012, is located about 110km east of Madeconia's capital city of Skopje.

Once completed, the two firms have contracts to operate the facility for the next 20 years.

SHI last month received certification for its new 2.5MW turbine design.

The firm has just completed work on a turbine manufacturing complex in Geoje, South Korea, and has a large offshore wind turbine in development.

Traditionally a shipbuilder, SHI is looking to diversify into wind turbine construction to capitalise on what it sees as an upcoming boom in offshore wind.

Analysts say its forays into onshore wind are intended to gain expertise before the nascent offshore wind market begins to pick up.

As well as a planned $8.2bn offshore wind farm near South Korea, the firm is targeting China, which plans to install 30GW of offshore wind by 2030.

SHI has already received orders for the construction of ships that would help install offshore wind turbines.

It is one of a number of South Korean engineering firms currently investing heavily in the offshore wind market. Another South Korean firm, Hyundai Heavy Industries, this year announced the development of a 5MW wind turbine primarily for use in the offshore wind industry.