SEOUL, Sept. 19 (Korea Bizwire) – The ruling People Power Party (PPP) launched a task force aimed at uncovering alleged corruption in the spending of government funds set aside to promote the installation of solar panels to enhance renewable energy generation in the previous administration. The move follows recent findings by the Office of Government [...]
SEOUL, Sept. 9 (Korea Bizwire) — Six affiliates of the state-run Korea Electric Power Corp. (KEPCO) plan to cut their investment in renewable energy over the next five years as they are under pressure to improve their worsening financial health, according to a report on Friday. The six affiliates, including Korea Energy and Korea East-West [...]
SEOUL, Sept. 1 (Korea Bizwire) – South Korea said Wednesday that it will launch a direct power purchase agreement (PPA) system that will enable businesses using large amounts of electricity to directly purchase the electricity produced using renewable energy without going through the electric power market. The Ministry of Trade, Industry and Energy announced that [...]
COPENHAGEN, Denmark, Aug. 31 (Korea Bizwire) — Copenhagen Infrastructure Partners (CIP) has reached final close on its new fund, CI Energy Transition Fund I (CI ETF I). The fund was oversubscribed and closed at the hard cap of EUR 3 billion. This makes CI ETF I the largest dedicated clean hydrogen fund globally. CI ETF [...]
SEOUL, Aug. 22 (Korea Bizwire) — Internet portal giant Naver Corp. said Monday it has become the first South Korean internet company to join RE100, a global renewable energy initiative to achieve carbon neutrality in business operations. Naver said it was recently accepted as a member of the RE100 initiative of The Climate Group, a [...]
SEOUL, Aug. 3 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday it will run its global production sites only on renewable energy starting in 2025 as part of efforts to achieve the goals for sustainable growth. All battery production facilities in South Korea, North America, Europe and China will operate on 100 percent renewable [...]
SEOUL, June 24 (Korea Bizwire) — Concerns are rising over the risk of the value chain for major sources of renewable energy like solar and wind power being dominated by China, a report showed Thursday. The report from the Federation of Korean Industries (FKI), the lobby for South Korea’s family-controlled conglomerates, gave a global forecast [...]
SEOUL, May 30 (Korea Bizwire) — The amount of electricity generated from renewable energy in South Korea touched an all-time high in 2021 on government efforts to cut greenhouse gas emissions, data showed Monday. Electricity produced from renewable energy sources came to 43,085 gigawatt hours last year, accounting for 7.5 percent of the country’s total [...]
SEOUL, Nov. 24 (Korea Bizwire) — President Moon Jae-in said Wednesday that South Korea will expand its use of renewable energy as the nation vows to go carbon neutral by 2050. Moon made the remarks as he visited a floating solar power-generating facility inside Hapcheon Dam in Hapcheon, about 350 kilometers south of Seoul. “Carbon [...]
SEOUL, Oct. 13 (Korea Bizwire) — Starting from the end of this month, companies will be allowed to directly purchase electricity produced from renewable energy. This will broaden the way for companies to participate in the RE100 campaign that calls for companies to meet their entire electricity demand with renewable energy such as wind power [...]