Sun Power
OCI, Korea's largest renewable energy operator, held a ceremony at Parkyard Hotel in Jiaxing, Zhejiang Province, China, on Sept. 14 to mark the completion of the “OCI-Jiaxing Xiuzhou Solar Power Plant.” The ceremony was attended by 30 officials, including OCI CEO Lee Woo-hyun, OCI Wuxi Solar Power CEO Kang Hak-ji, and Super Lighting CEO Jiang Tao.
The new 2.5 megawatt solar power plant was installed on the rooftops of the Super Lighting CMAG company building located in the industrial hub of Jiaxing, with an investment of US$3.35 million (4 billion won). It marks the first step in OCI’s stated plans to build solar facilities able to generate a total of 20 megawatts of energy in in Jiaxing by 2016.
Housed on the rooftops of the Super Lighting and CMAG buildings in the industrial hub of Jiaxing, the new solar plant has the distributed solar photovoltaic power system that first sells electricity to the building's owner for the next 25 years, and then sells the remainder to electric firms.
According to data from China’s National Energy Administration (NEA), the country will install a total of 17.8 GW of solar power plants this year, and 6 GW of them will have the distributed system.
Meanwhile, OCI has decided to establish a holding company in Jiaxing to manage its upcoming solar power projects across the nation in the future. Through the holding company, OCI plans to secure investment resources for the project in China, and use an efficient business strategy.