South Korea Plans to Build 4 GW of Solar-Wind Complex
Project expected to receive private investment to the tune of KRW 10 trillion
November 9, 2018
South Korea has announced that it will build a 4 GW solar and wind energy complex on the Saemangeum reclaimed land area in Gunsan. The hybrid complex will be located along the west coast of South Korea’s Jeollabuk-do Province. The power generated from this complex will be equivalent to that generated by four nuclear generators.
The project is expected to receive KRW (South Korean won) 10 trillion (~$8.9 billion) of private investment.
Out of the slated 4 GW capacity, the central and provincial governments will build a 3 GW solar power farm on land while the remaining 1 GW will be developed in the form of an offshore wind farm near Gunsan. The power generation site represents 9.36 percent of the total reclaimed area.
2.4 GW of solar power and 0.6 GW of offshore wind power will be built by the central government and the North Jeolla province. The project deadline has been fixed to be 2022.
“One of the world’s biggest solar energy and offshore wind energy generation facilities will be built in the Saemangeum area. The renewable energy production in this area will be a turning point for Korea’s renewable energy business that will foster the nation’s competitiveness in the field,” said Moon Jae-in, President of South Korea in a statement.
He added, “We will raise the level of renewable energy technology by placing related manufacturers and research institutes in the new renewable energy complex.”
The government has also decided to the accelerate the construction of power transmission and substation. The regulatory framework is being worked upon to align it with local acceptability and progress of internal development of Saemangeum.
Earlier, Mercom reported that South Korea’s Ministry of Environment has issued guidelines for solar power installation amid fears about environmental damage due to natural disasters.
In August 2018, Swytch, a U.S.-based blockchain-driven clean energy company, signed a deal with Chuncheon, the capital of Gangwon Province in South Korea, to reduce carbon emissions in the city.
Image credit: By Senior Airman Clayton Lenhardt [Public domain], via Wikimedia Commons
Nitin Kabeer
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