S. Korea to build 10 nuclear-scale solar complexes near Seoul

(Ministry of Climate, Energy and Environment)

South Korea plans to develop 10 gigawatt-scale solar power complexes in and around the greater Seoul area as part of an aggressive push to expand renewable energy capacity and lower electricity generation costs.

The Ministry of Climate, Energy and Environment on Tuesday unveiled the country’s first master plan for renewable energy, outlining mid- to long-term strategies through 2035 and targeting an early achievement of 100 gigawatts in renewable energy capacity by 2030.

The government said it will identify 10 flagship solar power projects by 2030, including sites in the Sihwa and Hwaong districts. Other potential locations include Pyeongtaek Port and Lake Pyeongtaek, former coal-fired power plant sites in the Chungcheong region, and border areas spanning northern Gyeonggi Province and Gangwon Province.

Each project is expected to have generation capacity comparable to a nuclear reactor. South Korean nuclear plants typically have installed capacity ranging from 1 gigawatt to 1.4 gigawatts.

The initiative reflects the government’s strategy of prioritizing regions with relatively available transmission grid capacity, particularly in the Seoul metropolitan area where electricity demand is concentrated.

The government also plans sweeping reforms to the renewable energy market aimed at cutting power generation costs. It aims to lower solar power contract prices to below 80 won per kilowatt-hour by 2035, nearly half the current level of about 150 won ($0.10).

Onshore wind generation costs are targeted to fall to below 120 won per kilowatt-hour from around 180 won currently, while offshore wind costs are expected to decline from about 330 won to below 150 won over the same period.

Yoo Seung-hoon, an energy professor at Seoul National University of Science and Technology, said the government’s move to present quantified cost targets for each energy source was meaningful.

“At the same time, aggressive cost-cutting goals and efforts to expand the use of domestically produced equipment are likely to collide in the market,” Yoo said.