South Korea is committed to stopping the use of nuclear energy completely by 2030. In line with that plan, government-backed KHNP also wants to expand renewable energy sources in the energy mix. (Photo Credit: www.goodfreephotos.com)
- Korea Hydro & Nuclear Power (KHNP), located in South Korea, plans to develop 100 MW of floating solar power capacity
- It has signed a memorandum of understanding (MOU) with Hwaseong Solar Energy to develop the plant on Hwaseong Lake
- The provincial government has allowed the use of 861,000 m2 of the lake for the PV plant
- KHNP will be investing 220 billion KRW ($202 million) to develop the plant
South Korea will soon be home to a 100 MW floating solar power plant. Government-backed Korea Hydro & Nuclear Power (KHNP) has signed a memorandum of understanding (MOU) with a local renewable energy to develop the plant.
Local news agency Yonhap reported that Hwaseong Solar Energy will develop the plant in Hwaseong, located 70 km southwest of Seoul. Hwaseong Lake, which is a man-made lake on the western coast, will host the plant. KHNP has signed a long-term lease with the provincial government to use 8.3% of the site or 861,000 m2 of the lake for this PV facility.
The entire project will require an investment of 220 billion KRW ($202 million). However, no other details have been made available.
KHNP plans to invest a whopping 10 trillion KRW ($9.2 billion) to expand renewable energy sources, including solar and wind, by 2030. The country plans to do away with nuclear power completely.
Last year, the city of Seoul announced its intention to power 1 out of every 3 households with solar panels by 2022 (see South Korea Plans Solar Capital).