Spanish company Acciona has finished the first stage of a wind park to be built in South Korea by a European company. The 61.5 MW Yeong Yang facility represents an investment of 100 million euros. A test bed complex for wind power capable of generating 40 megawatts will be built on reclaimed land at Saemangeum. The planned Saemangeum wind power complex is one of short-term projects by the government aimed at boosting the local renewable energy industry. The Ministry of Knowledge Economy reported development plans on wind and solar power during a monthly presidential meeting on green growth held yesterday.

The committee said it is also looking into creating a large wind farm on the ocean along the west coast. The complex would cost 400 billion won ($322.8 billion) and generate 100 megawatts of electricity. It is scheduled for completion by 2014.