S.Korea to invest $1 billion in tidal power plants  

Reuters has a report on South Korean plans to build 520 MW of tidal power generation over the next 4 years - S.Korea to invest $1 billion in tidal power plants.

Korea Western Power Corp (WP) will invest a total of 1.22 trillion won ($1.07 billion) to build 20 tidal power plants likely from next year through 2014, the government and officials at the utility said on Thursday. The power plants, to be located in about 200 km southwest of Seoul, will have a total capacity of 520 megawatts (MW), the world's largest, they said. ...

Asia's fourth-largest economy, heavily dependent on oil and gas imports, set a voluntary 2020 emissions reduction target last year to a 30 percent reduction from its forecast under a business as usual scenario. Renewable energy accounted for 2.4 percent of South Korea's total energy consumption in 2008. The country aims to increase that to 11 percent by 2030.