President Shin Jeong-shik of Korea Southern Power Co. (KOSPO).

Korea Southern Power Co. (KOSPO) is accelerating efforts to promote an energy paradigm shift with a focus on the implementation of large-scale new and renewable energy projects and intensive investments.

KOSPO is also redoubling efforts to collaborate with public entities, create jobs and reinvigorate the regional economy. The power company has established the “New and Renewable 3030” plan, which calls for the portion of new and renewable energies in power generation to rise to 30 percent by 2030, higher than the government’s goal of 20 percent.

True to the New and Renewable 3030 plan, KOSPO plans to raise to 6GW the power generation capacity of wind power, photovoltaic power, other new and renewable energy facilities, as well as energy storage systems and other energy facilities. The power company has adopted “SMART” strategies to raise its execution.

SMART stands for Social value, Massive scale, Available infrastructure, Resources upgrade and Technology upgrade.

The plan also includes detailed strategies such as creating social values in connection with the implementation of new and renewable energies, spearheading massive new and renewable energy development projects such as offshore wind power, developing new and renewable energies using infrastructure within the existing power plants, fostering new and renewable energy experts and developing technologies to foster the domestic industries.

KOSPO plans to plunk down about 8 trillion won to construct 6GW new and renewable energy facilities. On top of continuing to invest in domestic wind power, the power company will focus on developing and spreading new and renewable energies such as photovoltaic power and fuel cell power.

In particular, KOSPO aims to construct 2.1GW photovoltaic power and 2.8GW wind power facilities. The power company now runs 51 wind power units with a combined capacity of 105MW, the largest-ever one in Korea, KOSPO will launch projects to build the Jeongam Wind Power with a capacity of 32.2MW and the Gyinaemi Wind Power with a capacity of 19.8MW in Taebaek. The power company is seeking to implement wind power projects in Samcheok and Gangneung.

Domestic wind power is one of KOSPO’s representative projects. In cooperation with developers in the private sector, KOSPO is developing wind power resources.

In order to nurture the Korean wind power industry and secure a record of operation, KOSPO plans to build the Cheongsangpo Offshore Wind Power Complex in Busan. Other domestic offshore wind power complex projects in Daejeong, Jeju, and Haegi, Busan, are to be launched.

The wind power complex in Jeongam, Gangwon-do, completed by Korea Southern Power Co. (Photos: KOSPO

KOSPO Hosts Session to Procure Items Produced by Cooperative Companies

KOSPO hosted a companywide integrated session to procure items produced by its cooperative companies at the convention center of the International Passenger Terminal of Busan Port from Nov. 4 to Nov. 5.

The latest procurement session was designed to publicize excellent products of SMEs and help social enterprises, firms owned by women, companies with the handicapped and shipbuilding equipment makers. About 70 cooperative companies participated in the session and were given chances to explore marketing channels by operating nine exhibition booths.