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Fishermen oppose S. Korea's first floating wind turbine project
SEOUL -- South Korea's first energy project to build a cluster of floating wind power turbines around an offshore gas platform that reached the end of its life boggled at a minority report from fishermen who have opposed the construction of large industrial facilities at their operating zone without a full evaluation of environmental effects. Initially, Ulsan City Mayor Song Chul-ho had proposed a pilot project to build a floating structure with a c
January 16, 2019
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S. Korea earmarks $596 mln for safety of nuclear energy and waste
SEOUL -- South Korea's science ministry revealed a seven-year program to inject some 670 billion won ($596 million) in state money into the development of independent technologies related to the safe operation of nuclear power plants, the dismantlement of decommissioned reactors and waste management. The program calls for the acquisition of technologies for the prevention of radiation leakages as well as the safe tr
December 10, 2018
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K-water to build hydroelectric dam and power plant on Solomon Islands
SEOUL -- K-water, a state water resource development and management agency, will build a hydroelectric dam and a 15-megawatt power plant on the Solomon Islands by 2040 in a $210 million deal that would help ease a power shortage in a nation of hundreds of islands in the South Pacific. Construction will begin in October next year. K-water said Wednesday that it would build a hydroelectric dam on the Tina River about 19 km away from the nation's capital Honiara. The Tina Riv
December 5, 2018
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LS Industrial creates energy solution company in U.S. through acquisition
SEOUL -- LS Industrial Systems (LSIS), an electric power and industrial equipment producer, vowed to become a global player through preemptive investment after it acquired a division of Parker-Hannifin, a leading U.S. energy storage solution company. LSIS created a U.S.-based company, LS Energy Solutions, through the acquisition of Parker's Charlotte-based EGT (energy grid tie) division which provides multi-technology solutions. LS Energy Solutions would retain a
December 5, 2018
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Daelim Energy acquires $180 mln solar power business in Chile
SEOUL -- Daelim Energy, an energy and infrastructure development company in South Korea, has acquired a $180 million solar power business license in Chile from Grenergy Renovables, a Spain-based company engaged in a number of renewable energy projects in Latin America. Daelim Energy said Monday it would make a direct investment of $50 million with the remainder to be raised through project financing. The company would operate solar power plants capable of generating 105 megawatts
December 3, 2018
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Aid package for small shipyards includes orders for 140 LNG-powered ships
SEOUL -- Along with financial aid, small and mid-sized shipbuilders will receive orders for 140 vessels powered by liquefied natural gas (LNG) in a government campaign to recharge South Korea's ailing shipbuilding industry. The construction of LNG-powered ships is to meet new rules imposed by a U.N. maritime safety agency. The aid package came Thursday at a meeting of policymakers, led by Trade, Industry and Energy Minister Sung Yun-mo. Small and mid-s
November 22, 2018
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S. Korea and UAE discuss nuclear cooperation: Yonhap
SEOUL -- South Korea and the United Arab Emirates launched a high-level dialogue channel on nuclear cooperation on Friday, in another sign of their expanding partnership. The two countries held the inaugural session of the High-Level Consultation in Seoul, led by Seoul's Vice Foreign Minister, Lee Tae-ho, and Suhail Mohamed Faraj Al Mazrouei, the UAE minister of energy and industry. They agreed to install the dialogue channel during South Korean President Moon Jae-in&
November 16, 2018
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SK E&S sells 49% stake in LNG operator to Thailand's EGCO
SEOUL -- SK E&S, an energy company involved in power generation and the development of gas fields abroad, agreed to sell a 49 percent stake in its wholly-owned subsidiary, which runs a lucrative LNG power plant, to a Thai company. The company said in a regulatory filing Wednesday that the stake worth 885.2 billion won ($780.6 million) in Paju Energy Service was sold to Thailand's Electricity Generating Public Company (EGCO) which generates and sells electricity. A contra
November 14, 2018
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S. Korea seeks Russian help to manage nuclear waste and dismantle reactors
SEOUL -- For the dismantlement of decommissioned nuclear power plants and the safe management of spent fuel and waste, South Korea turned its eyes to Russian technology as negotiations with the United States on revising a 2015 nuclear accord moved at a snail's pace. President Moon Jae-in unveiled a new energy roadmap to replace fossil-fueled power plants with clean and renewable energy sources. The life cycle of existing reactors will not be extended to decrease the n
November 7, 2018
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KHNP wins deal to build 496-megawatt hydropower plant in Pakistan'
SEOUL -- Korea Hydro & Nuclear Power (KHNP), the state-run operator of nuclear power plants in South Korea, has won a deal to build and manage a 496-megawatt hydropower plant in Pakistan's Khyber Pakhtunkhwa Province. KHNP said Tuesday it signed a memorandum of understanding with the Pakistani province's energy and power department. Pakistan's Water and Power Development Authority is developing the Lower Spat Gah hydroelectric project
November 6, 2018
