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Solar projects are driving renewable energy investment
in South Korea.
According to Bloomberg New Energy Finance's report on renewable energy investment trends in South Korea, investment in the solar sector in South Korea reached US$3.
6 billion
in 2020.
This figure is expected to increase to $5.
1 billion this year.
South Korea's New Deal, introduced in July 2020, has boosted investor interest
by expanding auction capacity and increasing solar subsidy budgets.
By the end of 2020, the total installed capacity of solar energy was 15 GW, accounting for more than
11% of the total installed capacity of 129 GW in South Korea.
Wind power has an installed capacity of 1.
6 GW, while biomass power generation capacity is 1.
3 GW
.
Thermal power plants, including natural gas, coal and nuclear, dominate the country's electricity mix with a total capacity of 108 GW
.
Large-scale projects that received financing in 2020 include the 96 MW Anji Yantian PV power plant and the 65 MW Hyundai E&C Ruishan reclamation land PV power plant
.
Since 2017, no offshore wind projects have received any financing
.
However, new projects
continue to be launched in the context of the country's 12 GW offshore wind target by 2030.
Total (SE) and Green Investment Group formed a joint venture in 2020 to jointly develop a 2.
3 GW offshore wind project, and Danish renewable energy giant Orsted also announced a 1.
6 GW offshore project
in Incheon.
The Korea Development Bank was the largest lead bank
for renewable energy financing in 2020.
The Korea Federation of Community Credit Unions and Samsung Life Insurance ranked high among syndicated lenders
.
Solar projects are driving renewable energy investment
in South Korea.
According to Bloomberg New Energy Finance's report on renewable energy investment trends in South Korea, investment in the solar sector in South Korea reached US$3.
6 billion
in 2020.
This figure is expected to increase to $5.
1 billion this year.
South Korea's New Deal, introduced in July 2020, has boosted investor interest
by expanding auction capacity and increasing solar subsidy budgets.
By the end of 2020, the total installed capacity of solar energy was 15 GW, accounting for more than
11% of the total installed capacity of 129 GW in South Korea.
Wind power has an installed capacity of 1.
6 GW, while biomass power generation capacity is 1.
3 GW
.
Thermal power plants, including natural gas, coal and nuclear, dominate the country's electricity mix with a total capacity of 108 GW
.
Large-scale projects that received financing in 2020 include the 96 MW Anji Yantian PV power plant and the 65 MW Hyundai E&C Ruishan reclamation land PV power plant
.
Since 2017, no offshore wind projects have received any financing
.
However, new projects
continue to be launched in the context of the country's 12 GW offshore wind target by 2030.
Total (SE) and Green Investment Group formed a joint venture in 2020 to jointly develop a 2.
3 GW offshore wind project, and Danish renewable energy giant Orsted also announced a 1.
6 GW offshore project
in Incheon.
The Korea Development Bank was the largest lead bank
for renewable energy financing in 2020.
The Korea Federation of Community Credit Unions and Samsung Life Insurance ranked high among syndicated lenders
.
