GWANGJU < invest Korea

Gwangju City announced last week that it will sign an investment agreement to build a new and renewable energy complex in Gwangju.

According to the agreement, a consortium consisting of four companies, will invest KRW 230 billion to build 40 MW fuel cell plant and 7 MW solar power plant.

Construction of the solar cell plant and a fuel cell plant will be completed in 2014 and 2016, respectively, leading to electricity generation of 323GWh annually. It is sufficient to supply electricity to 90,000 households, which accounts for 15 percent of total households (560,000) in Gwangju.

Also, fuel cell plant will generate 100,000 Gcal of heat annually to be supplied to 12,000 households.

The project is expected to reduce 52,000 tons of carbon dioxide annually.

Gwangju city forecast to see profits of KRW 3.6 billion and annual employment of 10,000 workers during 20 years.

Mayor Kang Un-tae noted that the project is a large-scale energy complex project that encompass environmental and energy facilities. He added that the city will provide all administrative support for success of the project.

Source Text

Source: Newsis (Oct. 27, 2013)

** This article was translated from the Korean.