Japanese renewable energy company Eurus Energy is to step into the solar power market with the construction of a 1 MW photovoltaic power plant in South Korea. The specialist wind power developer will build the new plant in Jeollabuk-do, with commercial operation scheduled for mid-2008.
Eurus believes that it can use experience gained in the wind power generation business to build a successful operation in the photovoltaics field. It plans to take advantage of the Korean government’s policy to expand renewable power generation capacity.
The photovoltaic plant will be located in Sanchang-gun, covering an area of approximately 29 000 sq m. The Jeollabuk-do region has one of the highest year-round photovoltaic radiation levels in the country.
According to Eurus, the field of photovoltaic power generation has shown nearly the same growth potential as wind power generation in recent years. It also believes that market entry has similar parallels with wind, including the selection of sites and construction and operation of plant.
The Korean government wants renewable energy to account for five per cent of power generation by 2011 and has a number of policies to support this goal. It has set capacity targets of 1700 MW for wind power and 1000 MW for photovoltaic power.
Eurus Energy has specialised in the wind power business since it was established in 2002. It currently operates plants in six countries with a total capacity of 1336 MW, including South Korea’s largest wind farm at Gangwon-do (98 MW).
