News and Updates on HD Hyundai
Hyundai Heavy Industries Group Wins a KRW100 billion PV Project
The Hyundai Heavy Industries Group bagged a KRW 100 billion EPC project on construction of Korea’s largest onshore PV plant.
Hyundai Green Energy and Hyundai Electric revealed on April 2 that they entered into an agreement with Hyundai Engineering & Construction to supply and install a 65 MW solar power plant and an industrial 130 MWh Energy Storage System (ESS).
The solar power plant will be constructed on a 958,677.7 square meter site in Seosan Reclaimed Land at the westernmost tip of South Chungcheong Province. From April to the end of the year, Hyundai Green Energy will supply and install key parts and equipment such as PV modules and inverters, while Hyundai Electric will be responsible for production of ESS.
Notably, the site sits on a reclaimed land owned by Hyundai Engineering & Construction, where the late founder of Hyundai, Chung Ju-yung, successfully constructed coffer dams in 1984 by sinking an obsolete oil tanker. The huge tract of the reclaimed land is approximately 50 times larger than Yeoido.
Once the plant is completed, it will be the largest onshore PV plant in Korea. It will start commercial operation in January 2019, and generate power that can be harnessed by 22,000 households while saving twice as much power at the same time.
CEO of Hyundai Green Energy Kang Chul-ho commented, “The Seosan Reclaimed Land is a historic place where the late founder Chung Ju-yung turned a crisis into an opportunity with creative ideas. This project is also meaningful in that the plant will be built on a patch of salty farmland unproductive for farming. Hyundai Green Energy and Hyundai Electric plan to boost the green energy market in Korea and leverage on lessons learnt from this project to win more mega-size PV projects at home and abroad.”