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PPP Launches Task Force Against Moon’s Solar Panels Project

PPP Launches Task Force Against Moon’s Solar Panels Project

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 [...]

KEPCO Units Plan to Slash Investment in Renewable Energy

KEPCO Units Plan to Slash Investment in Renewable Energy

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 [...]

Gov’t Broadens Options for Corporate Purchases of Renewable Energy

Gov’t Broadens Options for Corporate Purchases of Renewable Energy

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 Infrastructure Partners Reach Final Close on CI Energy Transition Fund I at the EUR 3 Billion Hard Cap

Copenhagen Infrastructure Partners Reach Final Close on CI Energy Transition Fund I at the EUR 3 Billion Hard Cap

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 [...]

LG Energy Solution to Run Global Operations Only on Renewable Energy from 2025

LG Energy Solution to Run Global Operations Only on Renewable Energy from 2025

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 [...]

China Dominates World’s Renewable Energy Industry: Report

China Dominates World’s Renewable Energy Industry: Report

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 [...]

Ratio of Renewable Energy-based Power Generation Hits New High in 2021

Ratio of Renewable Energy-based Power Generation Hits New High in 2021

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 [...]

Moves Afoot to Allow Companies to Directly Purchase Electricity Produced Using Renewable Sources

Moves Afoot to Allow Companies to Directly Purchase Electricity Produced Using Renewable Sources

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 [...]