Hanwha, LG eye world's most significant floating solar farm project in Korea

Oct 7, 2020 02:44 PM ET
  • The bidding process for the globe's largest floating solar farm project is set to begin in South Korea, drawing rate of interest from major domestic solar power business, according to sector resources.
Hanwha, LG eye world's most significant floating solar farm project in Korea
Image: koreaherald.com

Korea Hydro & Nuclear Power presently intends to construct a 2.1-gigawatt floating solar energy plant worth 4.6 trillion won ($3.97 billion) that would certainly spread over more than 30 square kilometers near the Saemangeum reclamation location in North Jeolla Province. When finished, the plant will certainly have the ability to supply power to 1 million households.

This month, KHNP is expected to pick the bidder for the initial stage of the project, which would certainly make up 300 megawatts, or 14 percent of overall capacity. To secure the very first deal worth 660 billion won and also to take initiative in adhering to offers, the leading 3 domestic gamers-- Hanwha Q Cells, LG Electronics as well as Shinsung E&G-- have joined the bidding.

Hanwha Q Cells, the world's No. 6 solar module manufacturer by deliveries since last year, uses Q.Peak Duo Poseidon modules, specialized for floating solar farms, offering peak power of 420 watts and also energy efficiency of 20.3 percent. Poseidon modules do about 10 percent much better than regular modules, as water shows light and cools off the modules.

Peak power is the highest power result a solar module can attain. Energy efficiency is the proportion of a solar power converted into usable energy.

In 2018, Hanwha Q Cells exported 6,100 Q.Peak modules to a floating solar farm in Netherlands and also supplied its items to a floating solar farm at a tank in Ulsan in the very same year.

At The Same Time, LG Electronics, which doesn't make solar modules for floating solar farms, is seeing the market scenario.

"LG Electronics is currently examining the project as floating solar modules are reasonably not mainstream compared to land solar modules. LG Electronics has the technology, however it has to think about the return on investment and also productivity," a sector resource claimed.

Shinsung E&G, which will provide solar modules with peak power of 440 watts and also energy efficiency of 19.8 percent to a 73-megawatt floating solar farm to be developed by Hanyang starting following year, is one more player in the race.

"When KHNP examines prospective buyers, one of the criteria is how much they can contribute to the neighborhood economic situation. As an example, KHNP checks whether bidders have making facilities in the area or utilize Korean-made parts," a Shinsung E&G authorities said.

Shinsung E&G in June determined to build a brand-new solar module plant in Gimje, North Jeolla Province, with an annual capacity of 600 megawatts to create 450-watt solar modules.

Hyundai Energy Solutions, though it will not bid straight, is preparing to supply its solar modules specifically created for floating solar farms for the project.

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