"Industrial Complexes, Chimney Industries → Solar Power Production Sites"... Financial Support Begins

Industrial Complexes, Power Consumption Spaces → Eco-Friendly Energy Production Spaces
Long-Term Low-Interest Loans for Solar Panel Installation on Idle Land and Factory Roofs Supported

Until now, the image of industrial complexes has been that of "industrial bases with chimneys spewing smoke." The government plans to transform these complexes into key spaces for generating solar power to increase the nation's energy self-sufficiency.
(Photo by Asia Economy DB)

[Asia Economy Reporter Moon Chaeseok] The Industrial Complex Solar Power Financial Support Project, one of the key Green New Deal policies of the Ministry of Trade, Industry and Energy, has begun. It aims to increase energy self-sufficiency by encouraging the use of new and renewable energy in industrial complexes, which are representative spaces with high energy consumption.

The Ministry of Trade, Industry and Energy announced the Industrial Complex Solar Power Financial Support Project on the 21st and stated that applications will be accepted starting from the 27th.

This is a new project implemented with a budget of 100 billion KRW reflected in the 3rd supplementary budget on the 3rd of this month.

Source: Ministry of Trade, Industry and Energy

Long-term low-interest financial support of up to 90% of the solar power installation cost is available.

Eligible applicants include factory owners or tenants of the relevant sites who intend to carry out solar power generation projects using idle land or factory roofs within industrial complexes.

Parking lots within industrial complexes and roofs of factories outside the complexes are also included in the support scope.

A quarterly variable interest rate of 1.75% is applied. Small and medium enterprises can receive support up to 90%, while mid-sized companies can receive up to 70%. The loan period is based on a 5-year grace period followed by 10 years of installment repayment.

Source: Ministry of Trade, Industry and Energy

Applications can be submitted by uploading documents such as the industrial complex resident company confirmation and power generation business permit to the Korea Energy Agency Renewable Energy Center website.

An official from the Ministry explained, "Industrial complex solar power is a solar installation model that uses idle land without damaging the environment and is located away from residential areas, resulting in high resident acceptance."

He added, "Through this project, we will expand solar power installations within industrial complexes and transform these complexes from spaces that consume electricity into spaces that produce eco-friendly energy, thereby increasing energy self-sufficiency."

Detailed information about the project, including the Industrial Complex Solar Power Financial Support Project announcement, can be found on the Korea Energy Agency Renewable Energy Center website.

This content was produced with the assistance of AI translation services.