Korean utility Korea Southern Power (KOSPO) recently started the commercial operation of Solaseado PV farm in Haenam, South Jeolla Province.
According to KOSPO, the farm features the largest capacity of 98.397MW among photovoltaic power stations in Korea. The solar park also has 306.27MWh of ESS. The total investment in the farm is estimated to be KRW 344 billion.
KOSPO has invested in the solar park with Hanyang Corporation, who is also the EPC contractor. KB Kookmin Bank has played the lead manager in the endeavor, and local residents have been invited to invest in the project to share profits. It commented that the project will contribute significantly to its ‘New KOSPO 3030’ goal, which aims to fill 30% of its power generation from renewable sources by 2030.
Besides Solaseado PV farm, KOSPO is planning to add more PV capacity to its portfolio, including Korea’s first solar park on salt-damaged farmland, Chorakdo-ri PV farm.
Solaseado PV farm is a part of a larger smart city development plan, Solaseado Smart City. The project, which is being developed in areas between Yeongam Lake and Kumho Lake, envisions 21km2 of a smart, carbon-free city where autonomous EVs are dominating the traffic.
Through an SPC named Southwest Coast Enterprisecity Development Co., Ltd, Korean construction company Bosung Group is leading the project with partners of both private and public sectors including South Jeolla Province and Jeonnam Development Corporation. The development will be progressed in phases until 2030 costing around KRW 6 trillion, and the first phase will be completed in 2021.