The Largest Hapcheon Dam Floating Solar Power in Korea, Resident Employment and Profit Sharing... "A Model Case of Win-Win"

Hapcheon Dam Floating Solar Power Project Construction Site (Source=Korea Water Resources Corporation)

[Asia Economy Reporter Kim Bo-kyung] Korea Water Resources Corporation has officially launched on the 21st to promote the Hapcheon Dam floating solar power project, the largest of its kind in the country, as a 'resident participation-type' project.

The Hapcheon Dam floating solar power project in Hapcheon-gun, Gyeongnam Province, is a renewable energy project with a total budget of 92.4 billion KRW, scheduled for completion next year, with a facility capacity of 41 MW, enough to supply approximately 60,000 people annually. It is designed in the shape of the 'maehwa' (plum blossom), a symbol of Hapcheon-gun, and the domestic company Hanwha Q CELLS is in charge of construction.

The Water Resources Corporation announced that civil engineering and electrical personnel required for the floating solar power facility construction were primarily hired from the local area. Maintenance personnel needed for operation over about 20 years after completion will also be recruited from local residents.

Additionally, if local residents participate as investors in this project, they will receive a fixed interest income of 4-10% over the next 20 years according to their participation ratio.

The resident participation-type renewable energy project is included in the 'Renewable Energy 2030' plan announced in 2017, and the core of the project is to increase participation not only from project operators but also from local residents and the general public during the project implementation process.

It presents a long-term vision for regional development, such as creating local employment, increasing income through project investment, and building tourism infrastructure, making it a promising model case for regional coexistence.

Professor Park Jin-ho of Yeungnam University, Senior Vice President of the Korean Energy Society, said, "The resident participation-type business model will be an alternative to resolve conflicts with local communities, one of the major difficulties in expanding renewable energy distribution, and enable mutual coexistence."

Park Jae-hyun, President of the Water Resources Corporation, said, "To achieve carbon neutrality, the transition to renewable energy must accelerate, and coexistence measures with local communities must accompany it. Through this project, we will make the resident participation-type floating solar power project a model case for energy transition."

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