Invest KOREA

According to Yonhap News,

Saemangeum Development and Investment Agency signed an investment agreement on Dec. 4 with a consortium formed between General Electric (GE), an American multinational conglomerate, and a clean energy business Nemo ENG, headquartered in South Jeolla Province, Korea.

The association of two parties involved -GE & Nemo- now plans to build up marine & offshore solar power solutions inside Saemangeum industrial cluster, but neither side hasn’t revealed the details of when and how much it would be.

GE and Nemo, supposed to supply inverters necessary to cover a large swath of offshore solar power plant (1.5GW), are reportedly in urgent need of a new facility for the production line as they’re under tight schedule to catch up the deadline.

Pouring another USD 47.5 billion, Nemo is separately pushing ahead with a construction project to enhance production capacity to supply floating PV panels and energy converters in the cluster.

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Source: Yonhap News (Dec. 4, 2019)