Completion ceremony for the nation's largest solar photovoltaic power plant

On November 5, the Company held a ceremony in commemoration of completion of the work of Samrangjin Solar Photovoltaic Power Plant in Milyang, the largest of its kind in Korea. This is Phase-1 of the2mW-class power generation facility order the Company won from Korea Western Power Co., Ltd. The Company plans to complete Phase-2 of the order by the end of 2008.
The Company won the work on a turnkey basis, including design, purchasing and contractual work. The newly built plant displays the highest system efficiency among exiting existing photovoltaic power plants.
The Company intends to push ahead with projects for new & renewable energies, including wind power and sunlight, in an effort to secure future growth engines, utilizing its know-how related to wind power generation.
At present, the world’s solar photovoltaic power generation market is recording a rapid growth of more than 30 percent a year to a projected level of $36.1 billion by 2010, with the size of solar photovoltaic power generation expected to grow by more than ten fold, i.e. from 34mW at present to 450mW by 2011.