SunEdison, the solar energy development subsidiary of MEMC Electronic Materials, and the government of Gyeongsangnam-do in the south-east region of South Korea have announced a memorandum of understanding to establish 400MW of solar power plants in the province.
Subject to negotiation and completion of definitive agreements, it is expected that SunEdison will use public land and rooftops to build a number of installations totalling 400MW.
The government of Gyeongsangnam-do will support SunEdison in securing the land or buildings and in completing the authorisation and permission processes. The projects are expected to be complete by the end of 2013.
The governor of the province, Doo Kwan Kim, has been working to foster the growth of renewable energy initiatives and attract foreign investment. If completed, the activities proposed by the agreement are expected to create more than 1,500 jobs and help Gyeongsangnam-do achieve its renewable energy diffusion target of 15 per cent by 2030.
It is expected that SunEdison will make efforts to re-invest certain amounts of profit received from these projects in the local economy, and will try to encourage other companies located in Gyeongsangnam-do to participate in the construction and installation of the photovoltaic power plants.
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