Realizing 'ESG Management' through Profit Sharing with Resident Participation
Korea South-East Power recently held a dividend payment event for profit sharing from the Sinan Solar Power Project in Sinan County, Jeollanam-do.
[Asia Economy Reporter Joo Sang-don] Korea South-East Power is enhancing the acceptance of renewable energy projects by residents and promoting win-win cooperation with local communities through resident-participatory renewable energy power generation projects.
On the 7th, South-East Power announced that it recently held a profit-sharing dividend payment event for the Shin-an Solar Power Project in Sinan-gun, Jeollanam-do, which is being promoted as a resident-participatory renewable energy project.
The Shin-an Solar Power Project is a project in which South-East Power has invested 90% equity to install a 150MW-class solar power facility in Jido-eup, Sinan-gun. According to the "Ordinance on Sharing the Benefits of Renewable Energy Development" in Sinan-gun, it is a resident-participatory profit-sharing project involving more than 70% of the residents of Jido-eup.
On this day, profit-sharing dividends were paid to about 3,500 residents of Jido-eup, ranging from 110,000 to 350,000 KRW per person. Some households received dividends up to 2.08 million KRW.
A South-East Power official said, "Through the Shin-an Solar resident-participatory profit-sharing project, it is expected to improve the acceptance of renewable energy projects, which is a major challenge, and act as a factor for population increase in rural fishing villages facing the crisis of population decline."
South-East Power plans to actively reflect the Shin-an Solar case while promoting a 150MW-class Shin-an Solar, a 29.4MW-class Jaeun Resident Wind Power, and a 1.3GW-class offshore wind power project in Sinan-gun, Jeollanam-do.
Kim Hoe-chun, President of South-East Power, said, "Through this project applying the resident-participatory renewable energy business model, we will realize a model case of ESG (Environment, Social, Governance) management and strive to become a power generation public enterprise loved by the public by building an image as a renewable energy specialized company."
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