Buan-gun Selects Preferred Negotiation Partner for 'Saemangeum Floating Solar Power Project'

Consortium of 7 Companies Including Hyosung Heavy Industries

Construction and 20-Year Operation of 100MW Power Plant

The preferred negotiation partner for the 'Saemangeum Region-Led Floating Solar Power Generation Project' in Buan-gun, Jeonbuk, has been selected after the 4th round of public bidding.

On the 22nd, Buan-gun announced that it had selected a consortium consisting of seven businesses led by Hyosung Heavy Industries and will proceed with full-scale negotiations.

Location map of Buan-gun's 'Saemangeum Region-Led Floating Solar Power Project'. [Photo by Buan-gun]

According to the county, this project is being promoted by four local governments (Jeonbuk Province, Buan-gun, Gimje-si, and Gunsan-si) that were granted the rights to operate 100MW solar power generation projects each by the Saemangeum Development Authority. The project involves constructing a 100MW floating solar power facility and selecting an operator to run the power plant for 20 years after construction.

The county had previously announced recruitment for project operators three times, but the bids failed due to declining project feasibility. In June, the 4th announcement was made, and the Hyosung Heavy Industries consortium submitted a project proposal. The county selected the preferred negotiation partner after evaluating the proposals in accordance with relevant laws and regulations.

The county plans to form a negotiation team to work with the Hyosung Heavy Industries consortium to supplement the project proposal and decide on specific project implementation conditions.

Kwon Ik-hyun, the mayor of Buan-gun, said, "With the selection of the preferred negotiation partner, we have taken a step closer to responding to the government's renewable energy policy, returning development profits to the local community, and revitalizing the Saemangeum project development." He added, "We will do our best to ensure that the purpose of this public bidding is reflected in the project agreement."