Co-investor Hanyang and Lead Financial Institution KB Kookmin Bank Participate
"Profit Sharing of Power Plant and Regional Economic Revitalization through Local Residents' Capital Participation"
[Asia Economy Reporter Moon Chaeseok] Korea Southern Power has commenced commercial operations of the country's largest solar power plant complex established in Haenam-gun, Jeollanam-do.
On the 31st, Southern Power announced that the 100MW-class Solar Sido solar power plant complex has entered commercial operation ahead of its comprehensive completion.
The generation capacity of Solar Sido solar power is 98.397MW, making it the largest in the country. The world's largest 306.27MWh-class energy storage system (ESS) was also established alongside it.
According to Southern Power, Haenam, where the power plant complex is located, is recognized as an optimal site for solar power plants due to its excellent solar radiation, ranking among the best nationwide.
The project cost 344 billion KRW. Hanyang co-invested alongside Southern Power. KB Kookmin Bank, the financial lead manager, also supported the project. Local residents participated in the investment and share the solar power generation profits with the community.
Southern Power also devoted efforts to enhancing ESS safety. To prevent ESS fires, safety was reinforced through KS certification of equipment and dispersed placement of ESS facilities in buildings.
Shin Jeongsik, President of Southern Power, stated, "Solar Sido solar power, which coexists with the local community through resident participation, will become the standard for large-scale renewable energy projects to be developed in the future. We will do our best to lead the supply of clean energy for the people."
Meanwhile, Southern Power is pursuing additional project developments, including the country's first solar power plant on saline-affected land, the Chorakdori solar power plant in Dangjin, Chungnam, besides Solar Sido solar power.
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