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Industry

S. Korea solar power firm OCI to sell US affiliate for $384 mln South Korea's top solar power company OCI said Monday that it would sell its US affiliate for 385 million US dollars in an effort to improve its financial status. In a regulatory filing, OCI Solar Power said it has agreed to sell OCI Solar San Antonio 6 LLC. for 450 billion won ($384 million). The name of the buyer was not disclosed. OCI said the proceeds would be used to improve its financial status and finance another project in the United States. Si December 5, 2016
S. Korea to build world's largest floating solar power facilities: Yonhap K-Water, South Korea's state water resources company, said Friday that it has begun to raise funds worth about 100 billion won (84 million US dollars) to build the world's largest floating power-generating facilities. The energy company said it plans to sign deals with institutional investors by March next year to build and manage the 40-megawatt solar power facilities inside Hapcheon Dam in Hapcheon, about 350 kilometers south of Seoul. The company is set to build a 1 November 25, 2016
KEPCO hopes to earn $49 bln from UAE deal to run nuclear plants South Korea's state-run Korea Electric Power Corp. promised to earn 49.4 billion US dollars Thursday from a deal to run nuclear power plants in the United Arab Emirates for 60 years. The utility company said the deal was signed with Emirates Nuclear Energy Corp. KEPCO would invest $900 million in a company in charge of operating the reactors. Under a $20 billion contract in 2009, a KEPCO-led consortium has been building four nuclear reactors with a combined capac October 20, 2016
South Korea's first offshore wind power system in operation this week South Korea's first offshore wind power system will be put into operation this week off the southern resort island of Jeju, using three wind driven generators capable of producing electricity for 7,000 homes. The system built by Korea South-East Power Co. and Doosan Heavy Industries & Construction Co. will be operated from Thursday off Dumori west of Jeju City. The two companies plan to build seven more generators by September next year. The generators were m September 28, 2016
South Korea suspends four nuclear reactors for safety checks Four reactors have been shut down for safety checks in a nuclear power plant near the epicenter of an earthquake that rocked South Korea's southeastern region, operators said Tuesday. The region around Gyeongju hit by a magnitude-5.8 tremor on Monday has a dozen reactors in South Korea's largest nuclear power complex in Gori and other complexes. It was the strongest tremor to date since South Korea started collecting quake-related data. Four reactors in Wolseong September 13, 2016
[Revised version] State lab develops technology for mass production of tritium breeder pebbles: Yonhap (A corrected story as requested by sources) South Korea's state-run laboratory said Wednesday that it has successfully developed a technology for the mass production of tritium breeder pebbles for nuclear fusion energy. The technology allows the annual production of more than 50 kilograms of tritium breeder pebbles, which is one of two core fuels used for nuclear fusion energy, according to the National Fusion Research Institute (NF August 24, 2016
UAE deal boosts confidence in South Korean nuclear industry South Korea's nuclear energy industry regained its vigor Monday with a new 920 million US dollar deal in the United Arab Emirates that followed a series of corruption scandals, occasional blackouts and safety jitters. Under the deal, signed in Abu Dhabi with the Emirates Nuclear Energy Corporation, Korea Hydro & Nuclear Power (KHNP) will be in charge of the operation of the four nuclear reactors which have been under construction in the Middle East country under July 25, 2016
Doosan acquires US storage software maker 1Energy Systems Doosan Heavy Industries & Construction said Tuesday it has acquired US storage software maker 1Energy Systems in a deal that would strenghten the South Korean company's push into the energy industry. The Seattle-based company, which is now called "Doosan GridTech", will be led by new CEO Choi Dae-jin while its founder David Kaplan will serve as chief operating officer. The US company, founded in 2011, makes software to integrate batter July 12, 2016
Construction of two more nuclear reactors approved in South Korea A nuclear power reactor near Busan. The construction of two more nuclear power plants has been approved in South Korea, overriding public concerns over nuclear safety, ageing facilities and sporadic blackouts caused by faulty parts. The green light came late Thursday when the Nuclear Safety and Security Commission, a state watchdog, allowed the state-run Korea Hydro and Nuclear Power to build two more reactors at South Korea's largest Gori nuclear power complex in Gija June 24, 2016
Taekwang wins mega power plant project in Vietnam The Vietnamese government said Wednesday it has awarded a $2 billion power-plant project to a consortium of South Korea’s Taekwang Power Holdings and Saudi Arabia’s ACWA Power. Taekwang Power Holdings is an affiliate of South Korea’s largest shoe manufacturer Taekwang Industry, which has diversified its business portfolio into energy. Taekwang Industry, an OEM supplier of athletic shoes to major international brands such as Nike, took over Korea Electric Pow January 20, 2016