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증권시황 정보 열기

Hyundai Electric wins $18.5 mn solar power deal in S. Korea

2018.02.12 16:02:41 | 2018.02.12 16:03:09
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[Photo provided by Hyundai Electric & Energy Systems Co.]

[Photo provided by Hyundai Electric & Energy Systems Co.]

Hyundai Electric & Energy Systems Co. has won a 20 billion won ($18.5 million) solar power order with its design to brighten up the streets of Yeoju, a city southeast of the South Korean capital Seoul.

The company said on Monday it signed an agreement with the Yeoju city government and the state-run Korea East-West Power Co. to install a 6.5 megawatt (MW) solar panel and a 20.5 megawatt-hour (MWh) energy storage system on the 2.5-kilometer stretch of bicycle lane along the Namhan River and the 3.2-kilometer walking trail near Yeoju reservoir. The roof-shaped panel would not only power the streetlights but also serve as a shield against the rain.

Under the agreement, Hyundai Electric would be in charge of engineering, procurement and construction and Korea East-West Power of purchasing renewable energy certificates to meet government regulations. Yeoju city government would handle administrative matters such as licenses and authorizations.

This is Korea’s largest renewable energy project between a local government and public and private operators to take unused land as a site for development, according to a Hyundai Electric official. The company said it aims to complete the installation by the end of this year.

Since 2010, Hyundai Electric has worked with local governments of Ulsan, Jeju, Tongyeong and Taebaek and a number of companies in a range of energy projects building renewable energy power plants and energy storage and energy management systems.

By Kang Doo-soon and Kim Hyo-jin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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