KHNP to invest W1tr in green business

[THE INVESTOR] Korea Hydro & Nuclear Power seek to transform itself into an eco-friendly energy company by investing more in solar, wind and biomass energies, the firm said on June 27.

The state-run KHNP, which provides some 40 percent of Korean power supply, announced its road map for new energy business, focusing on investing 1 trillion won (US$848 million) on 10 green projects over the next five years. 

The projects are related to fuel cell, electric vehicle charging and thermal effluent businesses.

“The KHNP will nurture wind energy project as one of the future growth engine and will support the government’s carbon dioxide reduction measures,” an official at the firm said.

Under the plan, the firms will build solar power plants on idle tracts of land and expand the number of photovoltaic generating facilities on houses and parking lots.

As part of the scheme, the KHNP is also carrying out fuel cell business in Seoul and Busan to provide a more energy efficient heating option.

By Park Han-na (hnpark@heraldcorp.com)