The Korean subsidiary of Epuron GmbH has completed its first photovoltaic project with an output of 2 megawatts (MW).
EPURON Korea was commissioned by Samchully Co. Ltd, a leading Korean energy firm, to finance and develop the plant. Parent company Conergy (CGY.F) was contracted to execute the engineering and construction as well as the operational management of the plant. The plant has just received approval for commissioning and is now fully operational.
The solar plant is located on the grounds of the 2008 Hampyeong World Butterfly and Insect Expo, held annually in Hampyeong County in South Korea. The Expo is a major event for tourism, culture and economy for Korea’s southern region, and draws up to 2 million visitors annually. The solar plant, which is raised on steel beam structures above the parking lot, occupies about 47,000 square meters of the exhibition grounds and has an output of 2.4 gigawatt-hours per year.
Epuron has reached a major milestone in South Korea with the completion of its first large scale project. "The project for Samchully stabilizes the market position of the Conergy Group in South Korea," said Joachim Müller, CFO at Epuron. "Substantial growth in renewable energy has recently begun to pick up in South Korea, as proven by the rapid increase in project realization and interest from investors."
Similar to Germany, the construction of solar energy systems in South Korea is subsidized with low-interest loans and each kilowatt hour of solar energy fed into the public grid is rewarded with the equivalent of 40 Euro cent, guaranteed for 15 years. From 2010, the duration of the scheme will be extended to 20 years with up to 33 Euro cents being paid per kilowatt hour.
Loading...