The Saemangeum floating solar power project, stalled for years due to grid connection issues, is poised to progress following a memorandum of understanding between related institutions.
The Saemangeum floating solar power project, which has faced delays for several years due to power grid connection challenges, may finally progress thanks to a recently signed memorandum of understanding (MOU) between key institutions. On September 9, the Jeollabuk-do provincial government, the Saemangeum Development Agency, Korea Electric Power Corporation (KEPCO), and Korea Hydro & Nuclear Power Co., Ltd. gathered to formalize their collaboration for the first phase of the project. This large-scale initiative aims to establish solar energy facilities with a capacity of 1.2 GW over approximately 13.5 square kilometers of water surface, with an estimated total investment of 3.6 trillion KRW. Once completed, it is expected to generate around 1,700 GWh of eco-friendly power annually, sufficient to meet the electricity needs of about 350,000 households for a year.
This cooperation agreement is critical for successfully advancing the floating solar power project and resolving connection issues to ensure a stable supply of renewable energy from Saemangeum to the RE100 industrial complex. With the establishment of KEPCO's power infrastructure, the integration of renewable energy generated in Saemangeum will become feasible, allowing for its utilization in local areas like the RE100 industrial complex. This development is anticipated to contribute to achieving energy self-sufficiency in the region, embodying the principle of local production for local consumption.
Kim Dong-cheol, CEO of KEPCO, expressed hopes that the agreement will serve as a model for expanding renewable energy connections in the Honam region and facilitating swift progress towards RE100. Meanwhile, Jeon Dae-wook, acting president of Korea Hydro & Nuclear Power Co., remarked on the urgent need for clean energy in the age of AI and the significant role Saemangeum floating solar will play as the largest solar power complex in South Korea in striving for carbon neutrality. The institutions involved have committed to working together to ensure that the first phase of the project meets its target of becoming commercially operational by December 2029, delegating various roles to expedite administrative support and necessary permits while constructing transmission and transformation facilities to connect the system efficiently.
