SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s largest solar power plant built in partnership with local communities began operations in the southwestern county of Shinan on Wednesday.
The solar farm covers an area of 1.42 million square meters, encompassing four towns in the county. The complex holds a capacity of 150 megawatts, and is capable of generating 209.7 gigawatt hours per year.
The solar farm was built based on a 319.6 billion-won investment, with construction starting in May 2020.
The construction was completed late last year, and the solar farm will begin operations this month with an expected lifespan lasting until Dec. 2040.
The solar farm also received investment from 2,875 local residents who formed a cooperative to invest 12.8 billion won (US$10.6 million) in bonds.
Out of the total annual revenue raised through electricity sales, 2.6 billion won will be given to the cooperative which is expected to boost the income of local farmers and fishermen.
Image Credit: Shinan County Office / photonews@koreabizwire.com
