A group of South Korea’s public and private energy suppliers will chip in a total of 257 billion won ($227.4 million) to build Asia’s largest renewable energy multi-complex in Dangjin, South Chungcheong. The 1.12 million square meter complex is expected to consist of various renewable energy-related facilities including a solar energy complex with 80 megawatt (MW) capacity.
Four companies - SK Gas Co., SK D&D Co., Dangjin Eco Power Corp., and state-owned Korea East-West Power Co. -on Thursday signed a memorandum of understanding to invest a combined 257 billion won in creating a renewable energy multi-complex on a 1.12 million square meter site in Dangjin. The complex is expected to be Asia’s largest renewable-related facility.
Company presidents pose after signing an MOU on building Asia’s largest renewable energy complex in Dangjin, South Chungcheong. From left are Ham Yoon-song of SK D&D, Lee Jae-hoon of SK Gas, Kim Yong-jin of Korea East-West Power, and Jung Jin-chul of Dangjin Eco Power. [Photo by Dangjin Eco Power Corp.]
According to the companies, the multi-complex will have an 80MW solar energy complex, a 160 megawatt-hour (MWh) energy storage system complex, and other fuel cell and wind power related facilities. There will also be facilities on a 70,000 square meter site like a theme park devoted to raise public awareness for renewable energy. Part of the investment will also include installing a solar power plant on water and wind power generator at a nearby island to create a self-relying energy space.
The multi-complex will be aimed at providing visitors the opportunity to experience various environmental-friendly energy facilities and eventually turning into a tourist attraction.
Currently, Korea East-West Power, a subsidiary of Korea Electric Power Corp., operates eight coal power plants with total 4,000 MW capacity in Dangjin. SK Gas is also in its final stage of receiving approval by the government to newly build two coal power plants with 1,160MW capacity in the area by 2022 through its subsidiary Dangjin Eco Power.
Korea East-West Power, which also operates eight thermal power plants, has plans to invest 2.5 trillion won in improving environmental facilities with an aim to reduce pollutants by 50 percent by 2020 and 74 percent by 2030. In particular, the power provider plans to invest 470 billion won to move two outdoor coal yards indoors by 2024 to completely get rid of scattering dust.
By Jung Wook
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Source: Pulse by Maeil Business News Korea (Apr. 13, 2017)