Gangwon-do to Invest 34.1 Billion KRW in Next Year's 'Renewable Energy Convergence and Support Project'

Solar, Thermal, and Geothermal Energy Distributed to 3,671 Sites in 11 Cities and Counties Including Chuncheon
Annual Power Production of Approximately 13,507 MWh... Expected Greenhouse Gas Reduction Effects

Gangwon Province plans to install solar power, solar thermal, and geothermal facilities at a total of 3,671 locations, including residential homes and public facilities, in 2023. [Gangwon Province]

[Asia Economy Reporter La Young-cheol] Gangwon Province will invest a total of 34.1 billion KRW, including 15.3 billion KRW in national funds and local government and self-contributed funds, in next year's renewable energy convergence support project.

Although the scale of national funds decreased from 174.8 billion KRW last year to 133.7 billion KRW, the national funds secured by the province account for about 11.4% of the nationwide project (133.7 billion KRW), ranking third in the country.

According to the government's eco-friendly energy distribution policy, next year the province plans to form consortia with local companies in a total of 11 cities and counties, including Chuncheon City, to distribute facilities such as solar power (10,279 kW), solar heat (1,545㎡), and geothermal (7,574 kW) to a total of 3,671 locations including general residences and public facilities.

The project will be promoted by dividing it into the "energy source convergence project," which simultaneously installs two or more types of renewable energy source facilities (including power storage devices) in the same building, and the "district complex project," which simultaneously installs one or more types of renewable energy source facilities in mixed-use specific areas such as residential, public, and commercial (industrial) buildings.

Through this, the province aims to produce about 13,507 MWh of electricity annually and reduce carbon dioxide (greenhouse gas) emissions by replacing heating oil, thereby alleviating the household burden of residents caused by rising energy costs.

Earlier, the Ministry of Trade, Industry and Energy finalized the selection of national fund support targets for the 2023 renewable energy convergence support project on the 6th, after public evaluation of the project plan led by the Korea Energy Agency and on-site evaluations.

Meanwhile, the government is supporting national funds up to 50% of the total project cost for self-consumption to expand renewable energy distribution by district.

Since 2013, Gangwon Province has invested a total of 170.4 billion KRW (76.7 billion KRW national funds, 93.7 billion KRW local and other funds) in 13,052 locations up to this year.

Kim Kwang-jin, Director of the Advanced Industry Bureau of the province, said, "In line with the government's low-carbon and eco-friendly policy direction and renewable energy distribution expansion policy, we will continuously discover and distribute renewable energy projects tailored to the characteristics of each city and county."

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