Korean group to release 200 MW of floating PV at Saemangeum tidal flats

• SK Group has actually been picked as the recommended prospective buyer to construct a portion of the 2.1 GW floating solar facility the South Korean government is intending near the Saemangeum tidal flats, on the Yellow Sea coast.

SK Group, South Korea's third-largest corporation, intends to develop a 200 MW floating solar plant as part of the 2.1 GW floating solar facility the South Korean federal government is establishing near the Saemangeum tidal flats, on the shore of the Yellow Sea.

The Saemangeum Development as well as Investment Agency (SDIA) claimed the team's renewable energy device, SK E&S, was chosen as a favored prospective buyer to develop the project.

The center will certainly be constructed under the Investment Promotion Solar Farm Project system, which guarantees the legal rights to develop a 200 MW floating plant. Nevertheless, the developer has to invest greater than KRW 600 billion ($515 million) in a start-up cluster for high-tech venture firms as well as information centers for global information as well as communications technology firms.

"The Investment Promotion Solar Farm Project purposefully intends to draw in modern companies and promote development of Saemangeum (by) using Saemangeum's substantial land and also abundant sunshine problem as a pump priming incentive," the SDIA stated.

SK Group will certainly invest around KRW 2 trillion in the 200 MW range and also connected projects. "SDIA is going to authorize organization arrangement and full organization driver designation via working out with SK Consortium by November," the firm claimed.

The 2.1 GW Saemangeum project will certainly be 14 times larger than the current floating solar record owner, a 150 MW plant that is now being built in Huainan, in China's Anhui district. The Korean government unveiled the KRW4.6 trillion project last July and it overcame its initial hurdle 4 months later, when the South Korean Ministry of Defense confirmed that the substantial plant would certainly not impact flight procedures at a nearby U.S. armed forces base.

The government recently announced brand-new policies to focus on solar energy projects developed with low-carbon-footprint components. The guidelines are expected to prefer domestic solar cell as well as panel suppliers.