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Macquarie Capital Korea to finance solar farm in Goesan, Korea

2018.09.03 14:59:14
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[Photo provided by North Chungcheong Province]

[Photo provided by North Chungcheong Province]

Macquarie Capital Korea, the local operation of Australian investor in infrastructure, will be financing development of solar farms and energy storage system (ESS) in Goesan, landlocked town in central Korea to share profits with local residents.

The company said Monday that it signed a memorandum of understanding with the county office of Goesan to develop 16-megawatt solar farms and 35-megawatt-hours ESS in Goesan-gun, North Chungcheong Province. An annual capacity of 16-megawatt is equivalent to total power used by 7,700 households in a year.

Under the terms of agreement, Macquarie Capital Korea will build the solar park and ESS on idle lands in the region and share the proceeds from renewable energy system with local residents, then donate the facilities to the local community after 25 years.

The company said all residents of 100 households of Goesan voted in favor for the project. It will soon designate the builder for the solar farm.

Macquarie Capital Korea is local unit of Australia-based investment banking tycoon Macquarie Group. Last year, the company formed a strategic alliance with Korean electric power and automation equipment LS Industrial Systems Co. to cooperate on solar power and energy storage system projects and the two secured Korea’s largest ESS deal from SeAH Group in July.

By Hwang Soon-min and Cho Jeehyun

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

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