Hanyang Wins 111.6 Billion Won Offshore Solar Power Project in Goheung Bay

Signing of 63MW EPC Contract with Namdong Power Generation

Aerial View of Goheungman Floating Solar Power Plant

[Asia Economy Reporter Ryu Tae-min] Hanyang announced on the 19th that it secured its first order of the year by signing an Engineering, Procurement, and Construction (EPC) contract with Namdong Power for the 63MW-class Goheungman Floating Solar Power Plant on the 18th.

This project involves constructing a total of 63MW-class floating solar power plants on a 679,000㎡ site in Duwon-myeon, Goheung-gun, Jeollanam-do, with 43MW in the first phase and 20MW in the second phase. The contract amount for this project is approximately 111.6 billion KRW, of which Hanyang holds a 40% stake as the actual EPC contractor. Hanyang plans to commence construction in March this year and complete it by August 2022.

Last year, Hanyang completed and is operating the ‘Solar City Solar Power Plant,’ an onshore solar power plant equipped with the largest domestic capacity of 98MW power generation facilities and the world's largest battery energy storage system (ESS) with a capacity of 306MWh. It also secured the Saemangeum Sunlight Sharing Project, a 73MW-class floating solar power project, the largest in Korea, commissioned by the Korea Rural Community Corporation.

In addition to solar power, Hanyang plans to strengthen its position as an energy specialist company by achieving continuous results this year in the renewable energy business, which it is focusing on as a future business. Furthermore, Hanyang announced that it intends to expand development-type orders in the housing business, moving beyond existing public land and private contracts to smart cities, local governments, and urban corporations' proposals and public projects. It also aims to secure quality orders in urban maintenance projects such as redevelopment and reconstruction, transforming into an energy and development business specialist company and continuing sustainable growth.