LH-Korea East-West Power, Join Hands on 'Green New Deal' Including Solar Power Facility Expansion in Industrial Complexes

Roof-type solar power facility (Photo by LH)

[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH) announced on the 10th that it has signed a business agreement with Korea East-West Power to promote the Green New Deal, including the expansion of solar power facilities within industrial complexes.

According to the agreement, the two organizations will promote the "Power Brokerage-type Rooftop Solar Power Construction Project," which involves installing rooftop solar power facilities on buildings occupied within LH rental industrial complexes.

Additionally, through small-scale power brokerage projects, they plan to generate profits from the produced electricity and share them with tenant companies. Tenant small and medium-sized enterprises (SMEs) can receive a fixed monthly profit from the solar power generation project without worrying about equipment investment costs or operation and management.

LH and Korea East-West Power have decided to conduct pilot projects at the Gunsan National Industrial Complex and Changwon General Industrial Complex. They plan to analyze the results of the pilot projects and expand the project to rental industrial complexes nationwide.

They will also collaborate to develop an inter-agency cooperation model to expand Green New Deal projects and to create green industrial complexes in currently established or planned industrial complexes.

LH expects that the energy ecosystem will shift from a fossil energy-centered system to a renewable energy-centered one, responding to climate change and positively impacting related job creation.

Jang Chung-mo, Vice President of LH, said, "By collaborating, LH and Korea East-West Power, which represent the industrial complex and power energy sectors, will carry out the government's Green New Deal policy, and we expect this to become an excellent example of public enterprise cooperation models."

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