GE Energy to Supply Equipment for One of Asia’s Largest Solar Projects
GE Energy announced that its technology has been selected for one of the largest solar power projects in Asia, a three-megawatt facility being developed at Yong Gwang, Korea. GE will supply its high efficient 200W solar power modules for the project, along with balance-of-system equipment. KD Solar Co., Ltd. of Seongnam City, Korea, the EPC contractor for the project, is responsible for engineering, system design and installation. The solar installation is being developed by Korea Hydro Nuclear Power Co., which supplies more than 40% of Korea's power. Electricity generated by the Yong Gwang solar power plant will be transmitted to the national grid.
"This is a milestone project for the development of solar power in Korea and in all of Asia, and we are extremely pleased that our technology will support this effort," said Victor Abate, Vice President of Renewable Energy for GE Energy. "It is GE's largest single order for solar equipment globally to date, further illustrating that solar power is gaining broad awareness as a viable, commercial technology for clean energy."
Solar power is among the renewable energy technologies that play a key role in Ecomagination, GE's corporate-wide initiative to address challenges such as the need for cleaner, more efficient sources of energy, reduced emissions and abundant sources of clean water. Under Ecomagination, which was launched in May of last year, GE will invest $1.5 billion annually in research in cleaner technologies by 2010, up from $700 million in 2004.
The GE solar equipment for the Yong Gwang project will be manufactured at the company's facilities in Newark, Del. and will be shipped to the project site over the next year. The new solar installation is expected to enter commercial service in 2008. Yong Gwang marks GE's expansion in the renewable energy business in Korea. GE Energy business units operating in Korea include power generation, wind, solar, energy services, optimization services and network reliability products and services. The installed base of GE Energy equipment in Korea totals more than 40 gigawatts.
