Saemangeum Floating Solar Power Project is a 1,200MW solar PV power project. It is planned in North Jeolla, South Korea. According to GlobalData, who tracks and profiles over 170,000 power plants worldwide, the project is currently at the permitting stage. It will be developed in multiple phases. The project construction is likely to commence in 2025 and is expected to enter into commercial operation in 2026. Buy the profile here.

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Description

The project is being developed and currently owned by Hanwha Solutions. The company has a stake of 100%.

Saemangeum Floating Solar Power Project is a floating solar project.

Development status

The project construction is expected to commence from 2025. Subsequent to that it will enter into commercial operation by 2026.

Power purchase agreement

The power generated from the Saemangeum Floating Solar Power Project (Saemangeum Floating Solar Power Project Phase I) will be sold to Korea Hydro & Nuclear Power under a power purchase agreement. The offtake capacity is expected to be 300MW.

Contractors involved

Hanwha Solutions will be the supplier of the PV modules for the Saemangeum Floating Solar Power Project (Saemangeum Floating Solar Power Project Phase I). The company is expected to install 77,000,000 modules at the site.

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About Hanwha Solutions

Hanwha Solutions Corp (Hanwha Solutions), a subsidiary of Hanwha Corp, is a provider of chemicals, solar energy solutions and advanced industrial materials. The company carries out the production of inorganic chemical, plastic and polymer products which include chlorine and caustic soda, polyethylene, polyvinyl chloride, polyolefin, chlor-alkali, toluene diisocyanate, ethylene vinyl acetate, linear low-density polyethylene and other wire and cable compounds. It manufactures polysilicon for photovoltaic production, lightweight composite and thermoformable materials, solar cells and modules and electronic circuits including coverlay film, flexible copper clad laminate, adhesive sheet, and electro-magnetic shielding film used in mobile phones and tablets. Hanwha Solutions serves packaging, solar energy, paper, textiles, metals, construction materials, and automotive electronics. The company has operations in Malaysia, China, India, Thailand and Saudi Arabia. Hanwha Solutions is headquartered in Seoul, South Korea.

This content was updated on 25 January 2024

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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.

This information is drawn from GlobalData’s Power Intelligence Center, which provides detailed profiles of over 170,000 active, planned and under construction power plants worldwide from announcement through to operation across all technologies and countries worldwide.