Secured Over 800 Million KRW in National Funding for Renewable Energy Projects
Annual Capacity of 1,570 MWh Across 257 Locations in Cheoin-gu
Yongin City in Gyeonggi Province will focus on installing solar and geothermal power generation facilities with an annual capacity of 1,570 MWh in the Cheoin-gu area, an energy-vulnerable region, by next year.
On the 14th, Yongin City announced that it had been selected for the "2024 Renewable Energy Convergence Support Project" led by the Ministry of Trade, Industry and Energy, securing 824.41 million KRW in national funding. This is a 29.8% increase compared to last year's related support budget of 635 million KRW.
Including the national funding secured this time, the city plans to invest a total of 2.6 billion KRW to install solar power generation facilities of 937 kW, geothermal power generation facilities of 332.5 kW, and solar thermal collectors of 18㎡ at 257 houses and general buildings in the energy-vulnerable areas of Dongbu-dong, Yurim-dong, Wonsam-myeon, and Baegam-myeon in Cheoin-gu. The city explained that operating these power generation facilities will enable the production of approximately 1,570 MWh of energy annually.
A panoramic view of the solar power facilities installed in Ilsan 1-ri, Mohyeon-eup, Cheoin-gu, Yongin-si, Gyeonggi-do. [Photo by Yongin-si]
The city also announced that it received the highest evaluation in this year's Renewable Energy Convergence Support Project competition, securing national funding for five consecutive years. Previously, from 2020 to this year, the city invested a total of 6.4 billion KRW, including 3.2 billion KRW in national funding, to install solar and geothermal power generation facilities of 3,318 kW and solar thermal collectors of 176㎡ at 649 locations in Cheoin-gu.
Starting in January next year, the city plans to begin the project with a business agreement between resident representatives and participating company consortia, and proceed with the installation of renewable energy facilities according to the schedule for each facility by the end of the year.
Lee Sang-il, Mayor of Yongin City, said, "The spread of renewable energy facilities not only saves electricity bills but also achieves carbon neutrality. With the establishment of the Yongin Semiconductor Cluster in Wonsam-myeon, the population in Cheoin-gu is increasing significantly, so we will do our best to ensure stable power supply."
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