South Korea: SunEdison signs MOU for 400 MW of solar projects

Subject to negotiation and completion of definitive agreements, it is expected that SunEdison will utilize public land and building rooftops to build 400 MW of solar power plants. GSND will reportedly support the company in securing the proper land or building areas and in completing the authorization and permission processes.

GSND and Governor Doo Kwan Kim are said to have been working to foster the growth of renewable energy initiatives and attract foreign investment in the province. The company has said that if completed, the activities contemplated by this MOU will act to stimulate the local economy by creating more than 1,500 jobs and help GSND achieve its renewable energy diffusion target of 15 percent by 2030.

It is currently expected that SunEdison will make efforts to re-invest certain amounts of profit received from these projects for the development of the local economy and will try to encourage other companies located in Gyeongsangnam-do to participate in the construction and installation of the photovoltaic power plants.