(Background) The filing company is a photovoltaic (PV) company currently undertaking a solar PV generating project in Saemangeum region. The site that the company has invested in Saemangeum is classified as public waters and cadastral confirmation survey in the region is not yet completed. Since Renewable Energy Certificate (REC) weighting is only given to ordinary sites, buildings, and floating PVs, the filing company’s power generating facility in the site classified as public waters is not eligible for REC weighting.

(Major issues) In fact, however, the said site is practically an ordinary site but administrative issues are not finalized with cadastral confirmation delaying the process with the REC weighting. As a result, the filing company is having difficulties in securing the stable number of RECs that the company wishes to sell.

The Office of Foreign Investment Ombudsman (OFIO) received the grievance and contacted the Ministry of Trade, Industry and Energy (MOTIE), Korea Energy Management Corporation (KEMCO) and Korea Agency for Saemangeum Development and Investment (KASDI) to confirm the related issues. OFIO requested the competent authorities to speed up the administrative process.

MOTIE replied that when the filing company applies for REC weighting after completing the construction of power generating facility, the ministry will grant REC weighting in consideration of the related matters. KEMCO also provided positive feedback that it will go through the documents for the site visit and if all conditions are met, it will issue a confirmation document that the filing company is subject to REC issuance. KASDI was also willing to provide an active support.

The filing company would like to proceed with the project by carefully factoring in all the details and will further decide on the completion of the project.