Korean Participation in Fiji Solar Power Project Approved by Green Climate Fund
[Asia Economy Reporter Jang Sehee] The 'Fiji Agriculture Coexistence Solar Power Project,' in which Korea participates, has been newly approved by the Green Climate Fund (GCF) Board.
The Ministry of Economy and Finance announced on the 22nd that the GCF held a virtual board meeting from the 17th to the 21st and made this decision.
The fund is an international organization that supports greenhouse gas reduction and climate change adaptation in developing countries, with its secretariat located in Songdo, Incheon.
At this board meeting, the fund approved support for 15 projects related to greenhouse gas reduction and climate change adaptation, with a total project cost of $2.15 billion.
Among the approved projects is the Fiji Agriculture Coexistence Solar Power Project, involving the Korea International Cooperation Agency (KOICA) and the Korea Environmental Industry & Technology Institute.
This project involves investing a total of $20.1 million (approximately 23.9 billion KRW) over five years to install a 7-hectare solar power facility and an energy storage system (ESS) in Fiji.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
The fund plans to invest $9 million in this project, while KOICA will invest $8 million. The government stated, "We expect this project to serve as an opportunity for Korean renewable energy technology companies to expand overseas."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
