Mytilineos announced the completion of the construction of a 1.55MW photovoltaic project in the Yangpyung-gun area in South Korea, by the Renewable Energy Development & Storage Sector (RSD).
According to the announcement, this project is the first project of Mytilineos in South Korea and the wider region of East Asia, marking a new era for the RSD Sector, as it is one of the few European companies with successful penetration in the Asian market. .
The Yangpyung-gun project secured the KRW tariff rate of 119000 / MWh (~ US $ 100 / MWh) through a competitive bidding submitted in February 2021. Upon completion, it is expected to produce 2,000 renewable energy certificates (REC) per year. to the Korean District Heating Company under a 20-year offtake agreement (PPA).
Mytilineos RSD Sector further consolidates its position in the country by developing a 36MW photovoltaic project in the GonamMyeon area, Taean Province. The project has already received a power generation permit and a construction permit has been applied for. Within the next two years, the Sector aims to develop from scratch large-scale solar photovoltaic projects of 300MW through the acquisition of a package of small-scale solar projects with a maximum power of 50MW.
Nikos Papapetrou, General Manager of the RSD Sector of Mytilineos, stated the following: “South Korea is a market of strategic importance for the expansion of MYTILINEOS in the countries of the Asia-Pacific region and a great opportunity for global consolidation of the presence of the RSD Sector. We are one of the few companies internationally to penetrate this competitive market and assist South Korea’s “green” targets.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
