South Korea Plans To Invest About $101 Billion In Renewable Energy

- Dec 23, 2017-

South Korean industry trade department announced on Wednesday that the future will build more wind and solar power plants, a total investment estimate of 110 trillion won ($101 billion), to the proportion of renewable energy power generation in 2030, up nearly three times.

According to official estimates, 2030 renewable energy generating capacity will reach 63 billion kilowatts, South Korea, more than the current 48.7 billion kw, the equivalent of 35 new nuclear power generating units, the clean energy of total capacity proportion will also jumped to 7% from 20%.

According to the south Korean government, solar power plants account for more than 60 percent of total investment, while the remaining 34 percent will be used to build wind power plants, with more locations on the coastline.

At the same time, South Korea plans to cut nuclear power generation by year to avoid a repeat of Japan's fukushima nuclear disaster, and estimates that 10 of the oldest nuclear reactors will be decommissioning in 2030.South Korea now has 24 nuclear reactors, accounting for 30 per cent of the total.