SEOUL, Nov. 25 (Korea Bizwire) – K-Water, South Korea’s state water resources company, said Friday that it has begun to raise funds worth about 100 billion won (US$84 million) to build the world’s largest floating power-generating facilities.
The energy company said it plans to sign deals with institutional investors by March next year to build and manage the 40-megawatt solar power facilities inside Hapcheon Dam in Hapcheon, about 350 kilometers south of Seoul.
The company is set to build a 10-megawatt solar power facility and additional 30-megawatt facility by December 2017 and December 2018, respectively, said company spokesman Kim Tai-kwang.
He said the 40-megawatt solar power facilities could generate enough power to provide energy for about 14,000 households near the dam.
Currently, South Korea runs 19 floating solar facilities that can generate about 18 megawatt-hour of electricity.
South Korea has been seeking to go green by slashing carbon emissions in recent years, switching to renewable energy sources and ending its heavy reliance on fossil fuels.