Yongin City Completes First "Citizen Participation Public Cooperation Solar Power Plant"

Constructed on 5,788 Square Meters in Geunsam-ri, Baekam-myeon, Cheoin-gu
Generates 907 kW of Electricity Per Hour
Recruiting Individual and Corporate Investors
Investment Ranges from 100,000 to 50 Million Won

A solar power plant jointly developed by the local government and citizens has been completed in Yongin City, Gyeonggi Province.

A panoramic view of the "No. 1 Citizen Participation Public Cooperation Solar Power Plant" completed on the idle land in Geunsam-ri, Baekam-myeon, Cheoin-gu, Yongin City. Provided by Yongin City

On September 26, Yongin City announced that it held a completion ceremony for the "No. 1 Citizen Participation Public Cooperation Solar Power Plant," which was constructed in the Geunsam-ri area of Baekam-myeon, Cheoin-gu, on September 25. More than 50 people attended the ceremony, including Lee Sangil, mayor of Yongin, Lee Boyoung, head of the Citizen Participation Cooperative, and residents of Baekam-myeon.

The solar power plant was built on an unused 5,788-square-meter area along Local Road No. 318, utilizing the idle land to generate 907 kilowatts of electricity per hour.

Notably, this power plant was established as part of Gyeonggi Province’s "RE 100 Leading Project," with public institutions such as Yongin City and Gyeonggi Province joining forces with citizens to form the Citizen Participation Cooperative. This marks the first time such a project has been implemented in the Yongin region. The total project cost was 1.802 billion won, with Yongin City contributing 399 million won, Gyeonggi Province providing 491 million won, and the Citizen Participation Cooperative covering 912 million won.

Mayor Lee Sangil stated, "To address the climate crisis and achieve carbon neutrality, we must put energy transition into action," adding, "This solar power plant is highly significant as it is the first solar power plant created through cooperation between citizens and public institutions such as the city government."

Mayor Lee also mentioned, "In addition to this project, we plan to install solar power plants at Masung Interchange, Yongin Rowing Stadium, and Yongin Indoor Gymnasium."

At the completion ceremony of the No. 1 Citizen Participation Public Cooperation Solar Power Plant, Lee Sangil, mayor of Yongin (seventh from the left), and other attendees are cutting the commemorative tape. Provided by Yongin City

The electricity generated at the power plant will be sold to 'RE 100' companies and other buyers, with the profits distributed as dividends to cooperative members.

The newly completed solar power plant is also recruiting investors from among citizens. This investment structure allows citizens to directly participate in energy production and share in the profits.

The recruitment of investors, which began on September 25, will continue until the target amount is reached. Any individual or corporation that has resided in Yongin City for more than six months is eligible to participate. The city is initially recruiting individuals as investors, while corporations may participate depending on the fundraising status.

To participate, applicants must register online and deposit the investment amount. The investment is set at 100,000 won per account, with a maximum of 500 accounts (50 million won) per person.

The target fundraising amount is 1.81 billion won, which will be used as joint capital for the construction of additional solar power plants. Citizens who participate in the investment will receive annual dividends once a year, equivalent to approximately 6% of the profits generated from the sale of electricity produced by the solar power plant.

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