Saemangeum Floating Solar Power Project to Be Completed by 2029 with 1.2GW Capacity
The Saemangeum Floating Solar Power Project, stalled due to grid connection issues, is set to progress towards early completion by 2029. An MOU was signed between Jeonbuk Province, Saemangeum Authority, KEPCO, and KHNP to implement innovative connection methods, reducing project costs by KRW 300 billion and shortening the connection line from 15km to 2km. The project aims to establish Saemangeum as a renewable energy hub and enhance local economic growth through local energy production and consumption.
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The Saemangeum Floating Solar Power Project will establish a 1.2GW capacity facility by 2029, overcoming previous grid connection challenges. An MOU was signed between Jeonbuk Province, Saemangeum Authority, KEPCO, and KHNP, focusing on an innovative connection method that reduces the length of the connection line from 15km to 2km.
This change is expected to save approximately KRW 200-300 billion in project costs. The initiative aims to promote local energy production and enhance regional economic development. Minister Kim Sung-hwan emphasized the project's role in revitalizing the local economy and attracting businesses with affordable electricity.
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