The authorities in the South Korean city of Daegu have signed an agreement with a consortium led by Hanwha Asset Management, the financial services unit of Hanwha Group, to build a 1.5 GW solar project on rooftops and idle plots of land at the Sangyeok industrial complex.
Hanwha Asset Management plans to invest KRW 3 trillion in the solar project, which will be the country's largest PV installation upon completion. Currently, the largest solar project in South Korea is a 200 MW solar plant now under construction at a former salt farm in Sinan country, South Jeolla province.
Group unit Hanwha Systems will build the plant in partnership with LS Electric and Hyundai Electric and Energy Systems.
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“Daegu city plans to actively provide administrative support necessary for project development,” the municipal government said in a statement. “It will also support the developers in securing grid connection with Korea Electric Power Corp., following the installation of the solar plant.”
Daegu Mayor Hong Joon-pyo said the project will help to make the city a leading hub for renewable energy and carbon neutrality.
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