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New energy roadmap sounds death knell of 'nuclear-exit' policy in S. Korea SEOUL -- South Korea's broad new energy roadmap was unveiled to jack up the ratio of electricity generated by nuclear power plants in South Korea's energy mix to more than 30 percent by 2030, tolling the death knell for a "nuclear-exit" policy adopted by the previous liberal government to achieve net-zero carbon dioxide emissions by 2050. The new energy roadmap endorsed at a cabinet meeting on July 5 highlighted internal and external uncertainties such as the Russia-Ukraine w July 5, 2022
German company Aquila sets up renewable energy joint venture with Topinfra in S. Korea SEOUL -- Aquila Capital, an investment management company based in Germany, set up a joint venture with Topinfra, a renewable project development and construction company in South Korea, for their joint participation in renewable energy projects such as solar power, wind power, and battery energy storage systems. Topinfra CEO Jung Hyun-cheol said that the joint venture named Aquila Development Partners would provide an opportunity for Topinfra to grow by learning about Aquila's advanced inv April 6, 2022
[FOCUS] Doosan Enerbility awaits new energy roadmap from next president Yoon SEOUL -- Faced with an inevitable change in the political environment, Doosan Enerbility took a composed posture, awaiting a national energy roadmap to be drawn up anew by South Korea's next leader Yoon Suk-yeol after putting aside its reputation as the designer of the country's first homemade H-class gas turbine capable of producing some 270 megawatts of electricity. Doosan Heavy Industries & Construction changed its name to Doosan Enerbility on March 29 with renewed determination April 6, 2022
SK E&S acquires U.S. EV charging solution provider EverCharge SEOUL -- SK E&S, an energy company affiliated with South Korea's third-largest conglomerate, SK Group, has acquired EverCharge, a U.S. provider of electric vehicle charging services, as part of efforts to cope with growth in the U.S. electric vehicle charging market and achieve the goal of becoming a leading energy solution company. Financial terms were not given. SK E&S has earmarked $400 million to finance its U.S. subsidiary. The money will be used to acquire EverCharge and make March 24, 2022
Energy road map faces inevitable modifications under new conservative government SEOUL -- South Korea's energy roadmap pushed by President Moon Jae-in to achieve net-zero carbon dioxide emissions by 2050 in response to a global agenda for fighting climate change faces inevitable modifications as his successor regards renewable energy as an auxiliary means for nuclear power plants. President-elect Yoon Suk-yeol, who scored a narrow victory in presidential voting on March 9, has criticized Moon's "nuclear-exit" policy of phasing out nuclear power plants and March 14, 2022
S. Korea opens total energy station for EV charging, electricity generation and fueling service SEOUL -- In a pilot project aimed at expanding the distribution of clean energy, South Korea opened its first total energy station that charges electric vehicles and generates electricity from fuel cells and solar power, along with fueling. Gas stations have been the object of active transformation as South Korea is undergoing changes in its clean energy infrastructure led by major refiners. An old gas station run by SK Energy in Geumcheon District in southern Seoul was transformed into a c February 9, 2022
Samsung C&T consortium wins $835 mln deal to build two combined cycle power plants in Vietnam SEOUL -- A consortium led by Samsung C&T, a Samsung Group unit involved in trade, investment and construction, has secured an $835 million deal to build two combined cycle power plants with a total generation capacity of 1,600 megawatts at an industrial park in Vietnam. Samsung C&T's share is worth $510 million. The consortium involving Samsung C&T and Lilama, a construction company in Vietnam, has been selected by Petrovietnam Power, the subsidiary of ViePetrovietnam, a state-r February 3, 2022
Hanwha Q Cells consortium selected for state project to commercialize new solar cells SEOUL -- A consortium led by Hanwha Q Cells, a leading manufacturer of photovoltaic solar cells in South Korea, has been selected for a three-year state project to develop and commercialize perovskite crystalline silicon solar cells with high durability and high efficiency by using tandem cell technology that builds perovskite on top of silicon solar cells. Tandem solar cells can be individual cells or connected in series, which are simpler to fabricate but the current is the same through each December 27, 2021
Hanwha Solutions seeks new business model thru investment in U.S. startup Lancium SEOUL -- Hanwha Solutions, a renewable energy service provider affiliated with South Korea's Hanwha Group, will accelerate its transition to an IT-based future energy provider by acquiring a stake in Lancium Technologies, an American startup specializing in power management in data centers. Hanwha Solutions signed a contract to invest $100 million in Lancium. Without disclosing the size of its stake, Hanwha Solutions said it would participate in management in Lancium by securing a board sea November 25, 2021
Norway's Equinor partners with S. Korean company to cooperate for offshore wind power projects SEOUL -- Equinor, a Norwegian state-owned multinational energy company, tied up with Korea East-West Power, a public power generation company, to cooperate for 3.0 gigawatts of offshore wind power projects in South Korea. The partnership underlines Equinor's strategy to take a leading role in developing a pipeline of offshore wind projects in a country that is actively pushing for a green energy campaign to expand the use of renewable energy. Under a memorandum of understanding signed on No November 17, 2021