Jindo-gun Enacts Renewable Energy Ordinance to Promote 'Special Zone and Profit Sharing System'

Published 09 Nov.2023 10:26(KST)

Focus on Directions and Alternatives for Promoting Renewable Energy Projects

Jindo-gun, Jeollanam-do is emerging as an optimal site for renewable energy, drawing attention to the direction and alternatives for project promotion.

As Jindo-gun faces difficulties attracting corporate investment due to the economic downturn, renewable energy is emerging as the best alternative for regional development. In December last year, the county enacted an ordinance concerning the establishment of offshore wind energy facilities and resident participation.

On the 25th of last month, Kim Hee-su, the governor of Jindo County, held a meeting with offshore wind power developers. [Photo by Jindo County]

The ordinance includes the formation of a public-private council to systematically promote the project, prevent damage to fisheries, and devise plans to revitalize the local economy.

In particular, the profit-sharing system, where residents participate through stocks, bonds, and funds to share the net profits of the development project?rather than the operator monopolizing the huge profits?is expected to be realized by 2030.

Local residents unanimously stated, “Resident interest and participation are important for the realization of the profit-sharing system,” and “We hope the renewable energy project will be successfully carried out for regional development.”

A renewable energy expert emphasized, “From a long-term perspective, it is necessary to promote the designation of a renewable energy special zone unique to Jindo-gun and establish a research institute,” adding, “Efforts are needed to attract renewable energy-related companies and factories to unsold sites such as agro-industrial complexes, and to draw new investments by linking with the tourism industry.”