Gunsan City Launches 'Saemangeum Floating Solar Power' Project in Full Swing

Benefit Sharing Between Power Developers and Local Communities... Building Regional Coexistence
Saemangeum Takes First Step Toward Becoming a Global Renewable Energy Hub

Gunsan City, Jeonbuk Province (Mayor Kang Im-jun) took its first step toward becoming a renewable energy hub in Saemangeum by signing an agreement on the 30th with a consortium led by Hyosung Heavy Industries Co., Ltd. to promote the 'Saemangeum Gunsan Region-Led Floating Solar Power Project.'

According to the city on the 31st, the Saemangeum floating solar power project will construct and operate the world's largest floating solar power facility with a capacity of 2.1GW on the public waters inside the Saemangeum seawall. The project will be carried out in two phases: 1.2GW in phase 1 and 0.9GW in phase 2.

The Gunsan City agreement pertains to the region-led portion of phase 1, a 100MW power generation project allocated by the Saemangeum Development Authority. The 100MW floating solar power facility will cover an area of approximately 1.08㎢, equivalent to about 150 soccer fields. It will produce electricity sufficient for 38,000 households annually. The Hyosung Heavy Industries consortium, selected as the project operator, will invest about 260 billion KRW to build the facility and will be responsible for operating the project for the next 20 years.

On the 30th, Gunsan City in Jeonbuk signed an agreement with the consortium led by Hyosung Heavy Industries Co., Ltd. for the "Saemangeum Gunsan City Region-Led Floating Solar Power Generation Project."
[Photo by Gunsan City]

Through this agreement, the city expects to expand the industrial base such as local renewable energy production and contribute to revitalizing the regional economy. It also anticipates positive effects on the local economy, including the creation of quality jobs, use of local materials, and additional income generation for residents. Furthermore, the project operator will return a portion of the profits from operating the power facility to the local community.

The city conducted seven rounds of negotiations to realize the public return of profits from the project operator and regional win-win measures, aiming to establish an agreement that residents can tangibly feel. A city official stated, "Since Gunsan Citizen Power Co., Ltd. is participating as a shareholder, we expect smooth regional cooperation and public return of development profits."

Gunsan Citizen Power Co., Ltd. (CEO Choi Young-hwan), which participated as a shareholder in this project, is a public institution in which Gunsan City invested capital in 2020 to promote renewable energy projects.

Mayor Kang Im-jun of Gunsan said, "I thank the related organizations and personnel who supported the project to get on the right track over the years," adding, "Starting with this agreement, I hope the Saemangeum renewable energy projects, including the phase 2 floating solar power project, will succeed and lead not only the region but also South Korea's green growth."

Choi Young-hwan, CEO of Gunsan Citizen Power Co., Ltd., said, "This project will serve as a stepping stone for Gunsan Citizen Power to take a leap forward," and added, "We will play a leading role in creating an energy self-sufficient city by discovering and developing new renewable energy projects."

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