KOSPO Plays ‘Disruptor’ Role in Photovoltaic Power Industry
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KOSPO Plays ‘Disruptor’ Role in Photovoltaic Power Industry
Holds ceremony to dedicate Jeongam Photovoltaic Power Farm, fourth in KOSPO’s project to build 100 photovoltaic power stations

29(Mon), Apr, 2019

President Shin Jeong-shik of Korea Southern Power Co. (KOSPO) attends a ceremony to dedicate the Jeongam Photovoltaic Power Farm in Jeongseon, Gangwon-do, on March 25. (Photos: KOSPO)

Korea Southern Power Co. (KOSPO) held a ceremony to dedicate the Jeongam Photovoltaic Power Farm in Jeongseon, Gangwon-do, on March 25.

The newly built photovoltaic power farm is expected to emerge as a new landmark of the Jeongseon area since it goes well with regional wild flower festivals.

KOSPO held the dedication ceremony in which roughly 50 people, including officials from shareholder companies, including Unison, took part.

The Jeongam Photovoltaic Power Farm is the fourth photovoltaic power unit as part of KOSPO’s project to build 100 such units. The ceremony proceeded with the planting of commemorative trees, the unveiling of a monument and the presenting of commemorative plaques. The 32.2MW farm, outfitted with 14 units - each with 2.3MW - is capable of generating 78,000MWh of electricity, enough to power 22,000 households annually. The station is expected to have an effect of reducing 33,000 tons annually of greenhouse gas emissions.

The photovoltaic power station is located in the Mahang Hill area 1,250 meters above the sea level. The farm was built with eco-friendly construction methods to minimize the damages of the ecosystem.

KOSPO has so far built the 18MW Taebaek, 16MW Changjuk, 30MW PyeongChang, and 32MW Jeongam photovoltaic power farms. The latest dedication of the Jeongam Photovoltaic Power Farm brings to 46 with a combined capacity of 96.2 MW the number of photovoltaic power units built by KOSPO.

On top of the Gyinaemi Photovoltaic Power, to be dedicated late this year, the power company plans to have the 60MW Anin Photovoltaic Power Farm in 2020, the 40MW Cheongsa Off-shore Photovoltaic Power Farm in 2021, the 30MW Mt. Yukbaek Photovoltaic Power Farm in 2022, and 100MW Daejeong Photovoltaic Power Farm in 2023, contributing to creating the homegrown photovoltaic power ecosystem.

KOSPO President Shin Jeong-shik said KOSPO will continue to play a leading role as a game changer of the photovoltaic power industry with the goal of raising the portion of new and renewable power generation to 30 percent by 2030.

In a related development, KOSPO successfully secured financing for the planned Gyinaemi Photovoltaic Power Farm in Taebaek City, Gangwon-do. The fundraising will ultimately spur KOSPO’s plan to build 100 homegrown photovoltaic power units. The project is designed to help Korean photovoltaic power farm contractors secure a competitive edge by building photovoltaic power units with localized equipment and components.

KOSPO successfully raised the 33.52 billion won necessary for the construction of the Gyinaemi Photovoltaic Power Farm from Kyobo Axa Investment Managers.

The Gyinaemi Photovoltaic Power Farm is KOSPO’s fifth homegrown photovoltaic power farm project in an area near Hasami-dong, Taebaek City.

The project calls for the building of 12 19.8MW photovoltaic power units with a combined capacity of 1.65MW. The private sector will channel 47.2 billion won in the construction of the farm, scheduled to be dedicated around this year-end.

A view of the recently dedicated Jeongam Photovoltaic Power Farm in Jeongseon, Gangwon-do.

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