President Chung Jae-hoon of Korea Hydro & Nuclear Power. (Photo: KHNP)

Korea Hydro & Nuclear Power, which has declared a vision of being an integrated energy company, is accelerating efforts to expand new and renewable energy projects and related investments. KHNP aims to raise its new and renewable energy facility capacity from current 2.7 percent to 24 percent by 2030.

The power company is trying to tap hydro, power and wind power and other sectors in each district across the nation as well as abroad.

KHNP plans to implement photovoltaic power projects in cooperation with local governments. In October 2018, KHNP signed an MOU on the implementation of the Saemanguem renewable energy project with the central and local governments.

Under the deal, three city and county residents will participate in the project and share revenues from the operation of photovoltaic power farms. KHNP will max out benefits to neighborhood residents by hiring of residents preferentially and establishing circular trails and theme parks.

Photovoltaic power farms on salt farm sites on Bigeum Island are underway with a new/renewable energy residents’ cooperative and power companies’ participation.

The project is designed to enhance incomes for salt farm owners, who are struggling with a decline in salt prices, and create jobs, thus serving a driving force behind the growth of the regional economy.

Farm households’ participatory photovoltaic power projects, operated by KHNP, help neighborhood farmers raise their incomes. T

he first such project, dedicated in Sandeok Village in Yeonggwang, Jeollanam-do, in September 2018, is expected to help the village earn 2 million won to 2.5 million won per month in revenues from the operation of the plant for 20 years. The project is designed to allow photovoltaic power generation on top of farming.

The structure of the photovoltaic power farm does not cause inconveniences by allowing tractors, combines and other large-size agricultural machinery’s access to the farming area.

Given the situation that farming area accounts for 16 percent of the nation’s total territory, the spread of such a project on the farming area will not only increase farming households’ income from renewable energy generation but also contribute to the widening of new/renewable energy capacity.

KHNP, armed with experiences and expertise the power company has accumulated over 70 years, is striving to tap overseas hydro power markets. The power company dedicated a hydroelectric power plant, located in Dharchula, 950 kilometers northwest of Nepal’s capital Kathmandu, last year.

The hydro-electric plant is responsible for about 3 percent of Nepal’s total power generation facility capacity. The project is KHNP’s first overseas hydro-electric power project.

With the dedication of the plant, KHNP has been recognized for his abounding experiences in hyro-electric power plant construction, operation and maintenance.

With the successful implementation of the hydro-electric power plant project in Nepal, KHNP signed a joint development agreement (JDA) with RBI, calling for the former to have the right to operate a hydropower plant in Tskhenistskali, Georgia, on April 22.

Under the deal, construction will begin in 2021 and if the plant is dedicated by 2026 as planned, KHNP is expected to earn revenues from the selling of electricity coming from the permanent operation of the plant.

KHNP has been participating in offshore wind power projects in cooperation with KEPCO and five other power companies since 2012.