The eighth International Renewable Energy Conference (IREC) kicked off on Oct. 23 at the COEX Convention & Exhibition Center in Seoul. The largest renewable energy conference in the world is attended by more than 3,000 energy sector experts from 63 countries around the world and a total of 30 discussion sessions are scheduled under five topics for renewable energy promotion.
In step with the opening of the conference, Korea Hydro & Nuclear Power (KHNP) announced a plan to expand its renewable energy business.
At present, KHNP is running renewable energy power plants with a combined capacity of 745 MW, which is 2.7 percent of its total facility capacity. It is planning to raise the capacity and the ratio to 8.4 GW and 24 percent by 2030. Especially, the capacity is slated to be increased from 28 MW to 5.4 GW when it comes to photovoltaic power stations.
To this end, KHNP will build the world’s largest, 2.1-gigawatt, floating photovoltaic power plant in Saemangeum, North Jeolla Province. The profit derived from the operation of the power plant will be shared with three cities and counties located around the plant and spent for purposes such as local job creation and theme park construction.
KHNP is currently running 51 hydroelectric power stations with a combined capacity of 5,306 MW and the power stations account for 4 percent and more than 80 percent of South Korea’s total power generation capacity and hydroelectric power generation capacity, respectively. These days, hydroelectric power is emerging again as an energy source capable of dealing with the problems of solar and wind power.
In this regard, KHNP declared its hydroelectric generation business vision in June this year, the 90th anniversary of hydroelectric power generation in South Korea. According to its announcement, it will invest three trillion won to build new pumped storage power stations, one trillion won to modernize old hydroelectric power stations, and three trillion won to build hydroelectric power plants abroad for 10 years to come. The corporation built a 30-megawatt hydroelectric power plant in Nepal and is building or going to build power plants of that type in Indonesia, Pakistan, Nicaragua and Georgia.