While announcing the 4 GW Saemangeum solar complex, South Korean President Moon Jae-in (in the picture) said it will attract private investment of KRW 10 trillion ($8.8 billion). (Photo Credit: Cheong Wa Dae/ Department Global Communication and Contents Division/Korea.net)

South Korea is planning to set up a mega solar and wind energy complex with a massive capacity of 4 GW in Saemangeum in Gunsan city in Jeollabuk-do province. Country’s President Moon Jae-in said the complex will attract private investment of KRW 10 trillion on the Saemangeum reclaimed land area.

While the South Korean government’s official web portal Korea.net doesn’t specify details, local news portal Pulse News says, the plan consists of 3 GW of solar PV capacity on land and 1 GW of offshore wind farm near Gunsan, using 9.36% of the total reclaimed area in Saemangeum on the west coast. The entire capacity will be equivalent to power generated by 4 nuclear reactors.

The central government and the provincial government of Jeollabuk-do will start with 2.4 GW of PV and 600 MW of offshore wind power (100 MW inside and 500 MW outside of Saemangeum) by 2022.

According to the reports, government will speed up the construction of power transmission and substation and regulatory work.

“One of the world’s biggest solar energy and offshore wind energy generation facilities will be built in the Saemangeum area,” said President Moon, visiting the region for the second time after his inauguration. “We will raise the level of renewable energy technology by placing related manufacturers and research institutes in the new renewable energy complex. The renewable energy project in Saemangeum is the touchstone of Korea’s new energy policies.”

The President announced the 4 GW Saemangeum project after launching an offshore floating solar power plant in Gunsan.

Yonhap News, a news agency in the country, reported that the Moon wants to build this massive complex before his term as President ends in 2022, and that reducing country’s reliance on nuclear power was one of his election promises.

Under the new energy roadmap draft of the 8th Basic Plan for Long-Term Electricity Supply and Demand announced by the South Korean Ministry of Trade, Industry and Energy in December 2017, the country plans to increase the share of renewables in its energy mix to 20% by 2030. It will aim to have renewables account for 33.7% of the installed capacity in 2030, increasing from 9.7% in 2017. Between 2017 and 2030, it plans to increase installed capacity of renewables to 58.5 GW from 11.3 GW in December 2017, with the growth coming mainly from solar and wind power.