Changwon to undertake large solar power project on facilities

A large area of solar panels is installed for clean energy in Changwon. The city will invite private businesses to invest 40 billion won in solar power plants.

Changwon City will invite private enterprises to a competition to invest 40 billion won in new solar power facilities.
The city will create a public facility which produces 10MW (megawatt) of solar energy by 2013. A 3MW plant will be built first in a pilot project later this year.
The renewable energy has been spotlighted in the wake the radiation leak at Japan’s Fukushima Dai-Ichi plant in March last year. Photovoltaic power generation is a way of harnessing energy from the sun by converting visible light into electric current.
To secure funding for this project, the city invited top national companies to invest on a build-operate-transfer (BOT) basis at the end of April.
BOT is a type of project financing where private entities can recover their investments after financing, constructing and operating the plant for a contracted period. Through this, the city plans to create a solid industrial infrastructure and profit from green energy production.
The city’s slogan, “Bright Changwon,” embodies the movement to convert the city into an environmentally friendly metropolis. Its plans match the shift in ideals towards “green growth” and solar power. This shift will allow the city to reduce greenhouse gas emissions and help protect the environment.
It will be essential especially due to the renewable portfolio standard (RPS), implemented early 2012. According to the standard, 13 national electric companies are required to gradually raise the proportion of new renewable energy from 2 percent in 2012 to 10 percent in 2022, either by producing the energy or buying it from external sources.
Changwon aims to promote green energy by encouraging local companies and authorities to lead by example. In time, the project will receive national attention, serving as a model for the rest of Korea.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s