Seoul: The South Korean government has announced plans to create at least 10 significant solar power complexes in central and eastern regions to increase the country's renewable energy capacity to 100 gigawatts (GW) by 2030. This initiative is part of the government's newly unveiled 10-year plan for renewable energy distribution, which marks the first-ever national basic plan specifically devised for this energy source.
According to Yonhap News Agency, South Korea's nationally determined contribution (NDC) target for 2035 aims to generate 30 percent of the nation's power from renewable energy sources. The plan includes expanding the installed capacity of renewable energy facilities to 100 GW by 2030. In the previous year, renewable energy accounted for 11.4 percent of the country's total energy generation.
To achieve these targets, the government will establish at least 10 large-scale solar power complexes in areas such as the greater Seoul area, Chungcheong Province, and Gangwon Province. These complexes are expected to secure up to 12 GW of renewable energy generation capacity. Additionally, the government plans to install solar power facilities with a combined capacity of 44.2 GW in industrial complexes, along car roads, and in public facilities like schools and parking lots.
The Ministry of Climate, Energy and Environment also announced goals to reduce the prices of renewable energy sources, aiming to make them cheaper than liquefied natural gas (LNG) by 2035. The ministry plans to lower solar power prices to 100 won per kilowatt-hour (kWh) by 2030 and further reduce them to below 80 won per kWh by 2035, down from the current 150 won per kWh.
For wind power, the contract price for onshore generation will be reduced from the current 180 won per kWh to below 150 won by 2030 and 120 won by 2035. Meanwhile, offshore wind power prices will be decreased from the current 330 won per kWh to below 250 won by 2030 and 150 won by 2035.