JEOLLABUK-DO < invest Korea

The Gunsan City Government, OCI Corporation, and POSCO E&C have signed a memorandum of understanding (MOU) to construct a 40MW solar power generation system.

According to the MOU, they will invest KRW 100 billion in constructing the system for the next five years. The project has two phases: the first phase of building a 10MW system between 2013 and 2014; and the second phase of building a 30MW system between 2015 and 2017.

Gunsan expects the system to annually produce and supply 52,000MW of power, which can be used by 14,000 households per year. The figure translates into 35 million barrels of oil and 21.6 million tons of coal.

“We have entered into the MOU as part of our efforts to build a low-carbon, green city. We expect to generate jobs and attract relevant companies to the complex,” said Mun Dong-shin, Mayor of Gunsan.

Source: Yonhap News (Apr. 10, 2013)

** This article was translated from the Korean.