BDI, Wind Power Project Smooth Sailing... "Preliminary Feasibility Study for Jeongseon Wind Power Project to be Completed This Month"

[Asia Economy Reporter Hyunseok Yoo] Vidia announced on the 15th that the preliminary feasibility study related to the wind power generation complex (40MW) being promoted by Korea Electric Power Corporation (KEPCO) subsidiary in Jeongseon-gun, Gangwon-do is currently in its final stages and could be successfully completed as early as February.

Once this preliminary feasibility study is completed, Vidia plans to sign a Joint Development Agreement (JDA) for the wind power project with KEPCO’s power generation subsidiary within the first half of this year. Through this, in the second half of this year, they will proceed with obtaining the electricity generation business permit (40MW) for full-scale project promotion, aiming to start construction in the second half of 2022.

A Vidia renewable energy business official stated, “For the Jeongseon wind power project, Vidia is expected to hold 51% of the SPC shares, which will drive sales growth through electricity generation business permits and Engineering, Procurement, and Construction (EPC).” He added, “Through the sale of electricity and Renewable Energy Certificates (REC) resulting from SPC shareholding and the operation and maintenance (O&M) contract of the wind power plant, we expect stable additional sales for the next 20 years.”

He continued, “Vidia, originally a coal-fired power plant environmental plant specialist company, shifted its business to the renewable energy sector starting with solar power generation in 2017, followed by wind power and fuel cell power generation.” He added, “Having prepared for the renewable energy business over the past four years and bearing various know-how related to power generation projects, Vidia will leverage its unique strengths to become a leading company in the renewable energy power generation sector.”

In addition to the renewable energy business, Vidia acquired a 37.5% stake in the U.S. anticancer drug development specialist company ‘Ellison Pharmaceuticals’ in November last year, and as the largest shareholder of Ellison, it is now actively advancing its bio business as a new growth engine.

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