[2022 National Audit] Solar Power Projects Invested by KEPCO and Subsidiaries Use 'Chinese-Made' Equipment and Modules

950 Billion KRW Spent on Chinese Modules and Cells
Park Questions Whether Moon Administration Tried to Protect Domestic Solar Ecosystem

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] It has been confirmed that a significant portion of the solar power generation facilities invested in by Korea Electric Power Corporation (KEPCO) and its six power generation subsidiaries (Korea Hydro & Nuclear Power, Korea South-East Power, Korea Southern Power, Korea Midland Power, Korea Western Power, Korea East-West Power) are of Chinese origin.

According to data compiled on the 5th by Park Soo-young, a member of the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee from the People Power Party, based on materials submitted by KEPCO and the six subsidiaries, the proportion of Chinese-made modules and cells in each solar power project they invested in ranged from a maximum of 100% to a minimum of 16%. The cost amounted to at least 95 billion KRW.

Among these, 'Capco Solar,' in which KEPCO and all six subsidiaries participated with an investment exceeding 100 billion KRW, used 60% Chinese-made cells and spent approximately 24.7 billion KRW. The Hope Light Power project, promoted as a resident support measure following the Milyang transmission tower incident, also used 16% Chinese-made modules and 60% Chinese-made cells, spending about 1.1 billion KRW.

Solar City Solar Power, which operates 'Solar City,' known as the largest solar power complex in Korea, has Korea Southern Power holding a 29% stake. They purchased 59% Chinese-made modules and 100% Chinese-made cells, with costs reaching 20.8 billion KRW.

Yeongam Solar Power, in which Korea South-East Power holds a 19% stake, spent 24.1 billion KRW on Chinese-made modules and cells, and TS Energy 25, with a 90% stake, used 100% Chinese-made cells. The Chinese-made equipment purchase cost for Muan Solar Park, in which Korea Western Power holds a 20% stake, was 11.9 billion KRW, and the West Highway Solar Power Project, owned 20% by Korea Midland Power, also spent 5 billion KRW on Chinese-made equipment.

Assemblyman Park criticized, "Electric power production is a national key industry, but it is questionable whether the Moon Jae-in administration made efforts to protect the domestic solar power industry ecosystem," adding, "At least the companies invested in by public enterprises should have taken the lead in protecting the domestic solar power industry."