[Asia Economy Reporter Moon Chaeseok] Domestic power generation companies are converting coal-fired power plants into eco-friendly solar power plants and have secured the largest overseas solar power-linked energy storage system (ESS) project by a Korean company in the United States. They are achieving remarkable results daily as part of the government's announced 'Green New Deal' project.
Korea East-West Power Co., Ltd. completed the Dangjin Eco Solar Power Plant in Dangjin City, Chungnam Province, on the 23rd. The capacity is 9.8 MW of solar power and 24.5 MW/h of ESS, generating 13,000 MW/h of electricity annually to supply 3,500 households.
Originally, there were plans to build a coal-fired power plant in the area, but following the government's eco-friendly energy transition policy and Dangjin City's declaration of a special energy transition city vision, the construction was shifted to a renewable energy complex. East-West Power described it as "a representative milestone of the energy transition policy."
They also created a 'Green New Deal model' through labor-management agreement. Through the so-called 'East-West Power-type New Deal,' they will expand eco-friendly and digital investments.
They set a goal to focus investments on eco-friendly power generation projects such as new and renewable energy and digital power operation fields by 2025 to accelerate energy transition, create jobs, and contribute to overcoming the economic crisis.
They will continuously discover and promote Green New Deal tasks such as significantly expanding new and renewable energy, building smart energy cities, and campus energy efficiency projects.
Jungbu Power also achieved remarkable results. Last week, they secured ▲ the largest overseas solar power-linked ESS project in Korea ▲ and signed a solar power generation business agreement with Gimje City.
Earlier, on the 22nd, Jungbu Power and Hanwha Energy announced that they signed a power purchase agreement (PPA) with Nevada Energy for the Boulder Solar Phase 3 project underway in Nevada, USA.
The project has a scale of 128 MW solar power and 232 MW/h ESS, the largest scale among overseas solar power-linked ESS projects by Korean companies.
Jungbu Power stated, "It is significant as a joint entry of Korean companies into the highly competitive U.S. solar market," and they expect that successfully completing the project will greatly help with follow-up orders.
Earlier, on the 14th, the government announced that it will invest a total of 73.4 trillion KRW in the Green New Deal by 2025 to create 659,000 jobs.
They plan to invest 35.8 trillion KRW in the transition to new and renewable energy, closely related to power generation operators, to create 209,000 jobs.
The main policies include ▲ building an intelligent smart grid for energy management efficiency ▲ establishing a foundation for the spread of new and renewable energy and supporting a fair transition ▲ introducing a solar power resident participation profit-sharing project ▲ expanding loan support for solar power in rural and industrial complexes ▲ supporting wind measurement and feasibility surveys in up to 13 regions.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
