The company has secured electricity business licences for three South Korean solar projects, whose combined capacity is expected to reach about 500MW once completed.
Gurīn Energy has secured 379 megawatts (MW) in electricity business licences (EBLs) for three utility-scale solar projects in South Korea, according to the company. The three facilities will have a combined capacity of about 500 MW once completed. The global solar sector continues to see similar large-scale moves, as illustrated by the recent 1.4 GW solar asset acquisition by Purvah Green in India. Once operational, the three South Korean projects would generate enough electricity to supply around 200,000 Korean households annually.
The Jindo Green Solar project, located on Jindo Island, secured a 216 MW licence, the largest of the three. The neighboring Jindo Jido-yeomjang Solar Power project secured 65 MW in EBLs on the same island. Together, the two projects bring the licensed capacity on Jindo Island to 281 MW.
In Goheung county, the Goheung Nuri Solar Power project secured 98 MW in licences, half of its total planned capacity, according to Gurīn Energy. The project is co-owned by Gurīn Energy and Korean renewable energy developer Kumyang Green Power. The shared ownership structure reflects a common practice in the South Korean solar market, where international developers frequently partner with local players.
South Korea has stepped up the issuance of licences for large solar projects in recent years, as part of efforts to diversify its power mix. Other international developers have recently expanded their presence in overseas solar markets, as seen with PowerBank’s acquisition of 13.9 MW of community solar in New York State. These transactions reflect a gradual consolidation of the global photovoltaic sector.
Once fully commissioned, Gurīn Energy’s three projects would bring the group’s licensed solar capacity in South Korea to about 500 MW. The company has not disclosed a specific timeline for securing the remaining licences or for construction start at the sites.
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