Korea - Spanish firm to build wind-power complex

A massive wind-generated energy complex will be built in Milyang, South Gyeongsang province on an investment by a Spanish company that specializes in renewable energy. The establishment of the power generator comes at a time when markets around the world are competing for an energy source that could replace oil, which is increasingly expensive. The Korea Trade-Investment Promotion Agency said yesterday that Acciona Energia, based in Spain, agreed to invest $50 million in the establishment of the wind-generated energy complex in Milyang. Acciona Energia has constructed 91 such energy complexes in 11 countries, including Spain, France, Canada and the United Sates.
The company has an international market share of over 5 percent for wind-generated energy equipment.

The Spanish company's investment accounts for 70 percent of the complex's funding. The South Gyeongsang provincial government and a Korean investor, S.T.W., will provide the remaining 30 percent, or 22.5 billion won ($22 million). The energy complex is expected to break ground in February and finish in October. The 145,946 megawatts of energy produced annually will be sold at the Korea Power Exchange