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
Get the most relevant India solar and clean energy news.
RECENT POSTS
LATEST HEADLINES
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules
Mar 24, 2023
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed
Mar 24, 2023
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project
Mar 24, 2023
India Missed 2022 Renewables Target as Rooftop Solar and Wind fell Short
Mar 24, 2023
Researchers Aim to Accelerate Delivery of Space-Based Solar Power to Earth
Mar 24, 2023
India added an impressive 2.5 GW open access solar capacity in 2022, registering a growth of 92% year-over-year (YoY), according to the 2022 Q4 & Annual Mercom India Solar Open Access Market Report. Karnataka emerged as the to...
March 23, 2023
Markets & Policy
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar ModulesThe Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements betwe...
March 24, 2023
C&I
In Bengaluru, a 100 kW Solar System Can Save C&I Entities ₹1 Million AnnuallyMercom India successfully concluded the C&I Clean Energy Meet 2023 in Bengaluru, where stakeholders in the solar sector and commercial and industrial entities converged to enthusiastically discuss the benefits of renewable ene...
March 24, 2023
Other
Gensol Acquires Solar Tracker Maker Scorpius for ₹1.35 BillionGensol Engineering, a part of solar engineering, procurement, and construction (EPC) company Gensol Group, has acquired India-based solar tracker manufacturer Scorpius Trackers for ₹1.35 billion ($16.4 million). Gensol said the ac...
March 23, 2023
Trending News
Mercom Focus
Researchers Find Solution to Manage Load in Solar PV & Storage Systems
February 28, 2023
February 27, 2023
February 24, 2023
January 17, 2023
Magazine
Latest News
The Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements...
March 24, 2023
The Ministry of New and Renewable Energy (MNRE) told the Parliamentary Standing Committee on Energy that the intra-state stretches of the Green Energy Corridor (GEC) have been delayed due to various reasons, including...
March 24, 2023
German electric utility company Energie Baden-Wuerttemberg (EnBW) has made its final €2.4 billion (~$2.6 billion) investment decision on He Dreiht, a major wind project in the German North Sea. The project has a capacity of 960...
March 24, 2023
The Parliamentary Standing Committee on Energy report has isolated underwhelming progress on rooftop solar and wind energy projects as the primary reason for India falling short of achieving its renewable energy capacity target...
March 24, 2023
Researchers at Northumbria University are studying ways of producing wireless electricity from space to Earth by harvesting the Sun’s energy. U.S.-based aerospace, defense, and information security organization Lockheed Martin...
March 24, 2023
The Maharashtra Electricity Regulatory Commission (MERC) recently directed Hindustan Petroleum Corporation (HPCL) and the Maharashtra State Electricity Distribution Company (MSEDCL) to recompute the delayed payment charge from...
March 24, 2023
The National Renewable Energy Laboratory (NREL) has devised a new way to produce perovskite solar cells that could speed its commercialization. Different layers are typically added sequentially to a conductive glass substrate to...
March 24, 2023
Saudi Arabia-based energy company ACWA Power has signed power purchase and investment agreements with National Electric Grid of Uzbekistan, and the Ministry of Investment, Industry, and Trade to develop new solar and battery...
March 24, 2023
The China Securities Regulatory Commission has approved the registration of CSI Solar, the engineering, procurement, and construction arm of solar module maker Canadian Solar, to issue an initial public offering (IPO). The...
March 24, 2023
Renewable capacity grew by 9.6% in 2022, adding a record 295 GW worldwide. This accounts for 83% of all power capacity added last year and brings the global renewable generation capacity to 3,372 GW by the end of last year, a...
March 24, 2023
Get the most relevant India solar and clean energy news.
POPULAR POSTS
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules
Mar 24, 2023
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed
Mar 24, 2023
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project
Mar 24, 2023
India Missed 2022 Renewables Target as Rooftop Solar and Wind fell Short
Mar 24, 2023
Researchers Aim to Accelerate Delivery of Space-Based Solar Power to Earth
Mar 24, 2023