Solar Power Development
Korea Water Resources Corporation (K-water) announced on Feb. 22 that it would join hands with Korea Electric Power Corporation (KEPCO) to develop and expand the floating photovoltaic (PV) system. The two state-run companies will jointly develop floating PV facilities, raise investment sources and establish power transmission systems in the future.
Since the floating PV power plant is built on the surface of the water, such as dams and lakes, it has the high space efficiency and reduces the destruction of the environment.
The 2MW floating PV power plant which was established on the Boryeong Dam reservoir last year produces 2,781 megawatt-hours (MWh) of power that is enough power for 700 homes annually. It also has the import substitution effect of 4,350 barrels of crude oil and reduced 1,300 tons of carbon dioxide.
In addition to the Boryeong Dam, K-water has installed and operated a 500kW floating PV power plant on the Hapcheon Dam from 2012 and is also constructing a 3MW power plant on the Chungju Dam. It is heading the 40MW floating PV power plant development project at the Hapcheon Dam, which is the biggest in the world, in the future.