Pohang Industrial Solar PV Park is a 60MW solar PV power project. It is planned in North Gyeongsang, South Korea. The project is currently in permitting stage. It will be developed in single phase. The project construction is likely to commence in 2023 and is expected to enter into commercial operation in 2024.
| Project Type | Total Capacity (MW) | Active Capacity (MW) | Pipeline Capacity (MW) | Project Status | Project Location | Project Developer | Solar PV | 60 | – | 60 | Permitting | North Gyeongsang, South Korea | Hanwha Q CELLS; Korea East-West Power |
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Description
The project is being developed by Hanwha Q CELLS and Korea East-West Power. These companies also have ownership stakes in the project.
Pohang Industrial Solar PV Park is a ground-mounted & roof-mounted solar project.
The project cost is expected to be around $86.008m.
Development Status
The project construction is expected to commence from 2023. Subsequent to that it will enter into commercial operation by 2024.
Power Purchase Agreement
The power generated from the project will be sold to Korea East-West Power under a power purchase agreement.
Contractors Involved
Hanwha Q CELLS is expected to render EPC services for the solar PV power project.
Hanwha Q CELLS will be the supplier of PV modules for the solar power project.
About Hanwha Q CELLS
Hanwha Q CELLS Co Ltd (Q CELLS) is a vertically integrated solar solution provider. It develops, manufactures and sells solar cells and modules. The company produces a wide range of PV cells and modules, and silicon ingots; and provides EPC services for the development and installation of ground-mounted and commercial rooftop PV systems. Q CELLS sells PV cells and PV modules to utility companies, system integrators and through third-party distributors across Europe, North America, Asia Pacific, the Middle East, Latin America, and Africa. It has manufacturing facilities in China and Malaysia. Q CELLS is headquartered in Seoul, South Korea.
About Korea East-West Power
Korea East-West Power Co Ltd (EWP), a subsidiary of Korea Electric Power Corp, is a state-owned electric utility producer. It generates and supplies the electricity to its customers in the region. It produces electricity from various sources including coal, oil, liquefied natural gas, mini hydro, and renewable sources such as solar, wind, biomass, and bio gas. The company also offers plant construction, engineering, plant operations, and plant maintenance services; and financial investment services for the exploration and development of mines. EWP serves in domestic and overseas regions. It has operating and developing interests in power generation facilities in North America, Latin America and the Caribbean, Asia, and Oceania. EWP is headquartered in Jung-gu, Ulsan, South Korea.
Methodology
All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.
