SEOUL, :South Korea will push to build the country's largest floating solar farm on the western coast to expand power generation from eco-friendly energy sources, state-run company Korea Hydro and Nuclear Power (KHNP) said Monday.

KHNP said it has signed a memorandum of understanding with Hwaseong Solar Energy, a local renewable energy firm, to develop the floating 100 megawatt-capacity solar power plant in Hwaseong, 70 kilometers southwest of Seoul.

The project aims to place an array of photovoltaic panels on a structure that floats on Hwaseong Lake, a manmade lake on the western coast.

The state utility firm said it has signed a long-term lease with the provincial government to use 861,000 square meters of the lake, or 8.3 percent of the site.

The 220 billion won (US$202 million) project is part of KHNP's plan to invest 10 trillion won by 2030 to expand renewable energy sources, including solar and wind power.

The government plans to increase the ratio of renewable energy from the current 7 percent to 20 percent by 2030. The increase will allow renewable energy output to reach a capacity of 63.8 gigawatts.

Source: Yonhap News Agency