Hyosung Enters the photovoltaic power generation business

2007.05.30

    On May 30, Hyosung Corporation won an order for a photovoltaic power generation facility at Samrangjin from Korea Western Power Company, signifying its entry into the new/renewable energy business. The 3MWp power generation facility will be the largest one ever built by the KEPCO subsidiary.
    The first phase of the work (i.e. a 2MWp facility) will be completed by September this year, followed by a 1 MWp facility next year.
    Photovoltaic power generation refers to a power generation method in which photovoltaic solar energy is transformed into electricity by creation of magnetic fields. At present, Korea Western Power Company operates such facilities in Taean, Samcheonpo, Donghae, Yeongheung and Yeonggwang. It is expected that photovoltaic power generation will account for 2.6 percent of the nation’s entire new/renewable energy-based power generation by 2011.
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