South Korea to Build 10 Solar Power Complexes to Boost Renewable Energy

SEOUL, May 19 (Yonhap) -- The government will create at least 10 massive solar power complexes in the central and eastern regions in a bid to expand South Korea's renewable energy capacity to 100 gigawatts (GW) by 2030, the climate ministry said Tuesday.

The scheme was announced as part of the government's 10-year plan for renewable energy distribution, the first-ever national basic plan devised for the energy source.

Under the nationally determined contribution (NDC) target for 2035, South Korea aims to generate 30 percent of power through renewable energy by 2035 and expand the installed capacity of renewable energy facilities to 100 GW by 2030.

Last year, renewable energy accounted for 11.4 percent of the country's total energy generation.

To this end, the government will work to establish at least 10 large-scale solar power complexes in the greater Seoul area, the central Chungcheong Province and the eastern Gangwon Province, to secure up to 12 GW of renewable energy generation capacity, according to the Ministry of Climate, Energy and Environment.

The government will also install solar power facilities with a combined generation capacity of 44.2 GW using industrial complexes, car roads and public facilities, like schools and parking lots.

The ministry also announced its goal to lower prices of renewable energy sources to make them cheaper than liquefied natural gas (LNG) by 2035.

It aims to cut solar power prices to 100 won per kilowatt-hour (kWh) by 2030 and to below 80 won per kWh by 2035, from the current level of 150 won per kWh.

The contract price for onshore wind power generation will be reduced from the current 180 won per kWh to below 150 won by 2030 and 120 won by 2035, while the price for offshore wind power will be lowered from the current 330 won per kWh to below 250 won by 2030 and 150 won by 2035.