South Korea to adjust renewables targets, develop more nuclear plants

Jul 6, 2022 04:18 PM ET
  • South Korea is intending to change its renewables targets as part of a host of energy policies from the country's new government, which intends to enhance the role of nuclear power.
South Korea to adjust renewables targets, develop more nuclear plants
Image: Endesa

Renewable resource supply objectives "should be improved in factor to consider of sensible and realistic supply problems", the country's ministry of profession, market and power claimed in a technique record released today (link in Korean).

While it really did not reveal new implementation targets for solar as well as wind, a market ministry authorities informed Reuters that renewables' share in the nation's energy mix will certainly be "reasonably gotten used to below 30%" by 2030, compared to 6.3% last year.

Under South Korea's newest Basic Plan for Electricity Supply and Demand for 2020-- 2034, renewables are because of represent 41.9% of the country's power capacity by 2034.

The ministry also said it aims to increase exports of new power sectors and also target the commercialisation of modern technologies such as tandem solar cells.

In regards to the grid, crucial objectives include the timely construction of new framework as well as system stabilisation actions lined up with renewable resource generation.

Replacing the previous administration's nuclear phase-out method, the new government's energy policies include plans to return to building service two nuclear reactors as well as have nuclear power providing greater than 30% of the country's electricity generation by 2030.

Amid the worldwide push toward carbon neutrality, the Russia-Ukraine conflict as well as power supply chain unpredictabilities, power safety and attaining carbon neutral objectives "are currently more vital than ever", the sector ministry claimed in a statement.

" In action to these changes, it is necessary that new power policy goals as well as directions are set so regarding much better achieve carbon neutral federal government tasks as well as the expansion of nuclear power."

South Korea is going for 34GW of mounted solar by 2030 as part of its basic electricity supply plan, according to research study firm Wood Mackenzie, which claimed last year the country could be much more enthusiastic with its 2030 renewables capacity target.

Current news in South Korea's PV industry consist of conglomerate Hanwha Group exposing plans to spend US$ 3.3 billion in clean power manufacturing as well as develop a solar research and development hub in the nation.

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