GANGWON-DO < invest Korea

Taebaek city announced Wednesday that it will sign a memorandum of understanding to build a solar power plant.

The project will take build-own-transfer approach. Using the city’s idle land, SKC lighting will build and operate the plant and then transfer to Taebaek city.

The solar power plant of 2,000kw will be built with private sector investment in a 20,000 m2 site. The initial investment amounts to KRW 6 billion.

The construction will start next month, and plant installation and pilot operation will be undertaken in following four months before it begins operation. The plant is expected to generate profit of KRW 4.9 billion for next 13 years and contribute to regional economy substantially.

A Taebaek official noted that the solar power plant, which will be installed in the idle public lands, will help to enhance Taebaek’s image as an eco-friendly clean city and support energy for low-income families.

The solar power project is the first project to be installed at high land of an altitude of 1,000 meters, said SKC lighting, adding that it will endeavor to build the eco-friendly solar power plant.

Source: Newsis (July 24, 2013)

** This article was translated from the Korean.