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November 24, 2021

Saemangeum Floating Solar Power Project, South Korea

By Carmen

Saemangeum Floating Solar Power Project is a 1,200MW solar PV power project. It is planned in North Jeolla, South Korea. The project is currently in permitting stage. It will be developed in multiple phases. The project construction is likely to commence in 2021 and is expected to enter into commercial operation in 2022.

Project Type Total Capacity (MW) Active Capacity (MW) Pipeline Capacity (MW) Project Status Project Location Project Developer
Solar PV 1,200 1,200 Permitting North Jeolla, South Korea Hanwha Solutions

Description

The project is being developed and currently owned by Hanwha Solutions.

Saemangeum Floating Solar Power Project is a floating solar project.

Development Status

The project construction is expected to commence from 2021. Subsequent to that it will enter into commercial operation by 2022.

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 Q CELLS 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.

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 is engaged in 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 also 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. Its products find application in various industries such as packaging, solar energy, paper, textiles, metals, construction materials and automotive electronics. The company has operations with production facilities and R&D centers in Malaysia, China, India, Thailand and Saudi Arabia. Hanwha Solutions is headquartered in Seoul, 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.

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