Solar Panels, 800.292.7648
• 2007-Nov-14 - Korean Solar Panels
Although commercially unproven, the charm of solar power generation is luring investment from local governments and firms of various industries, helped by soaring oil prices and concerns about greenhouse gas emissions from fossil-fuel power plants.
A number of companies including big conglomerates such as LG, Samsung, Hyosung and STX have joined the solar generation field from last year, whether it is the manufacturing of solar panels or building and operating of solar farms. But concerns are arising about the profitability of the business, as the cost of operating a solar plant for the same amount of energy is expected to remain much higher than the cost of running fossil-fuel power plants for years, or even decades.
On Tuesday, LG CNS, one of the largest IT service and consulting firms, said that it started building a solar farm in Boryeong, South Chungcheong Province, which is its ninth solar project in South Korea since last year. The project is to cost 52 billion won and the facility will produce 7 megawatts of electricity per hour from late next year, it said.
The company first joined the sun energy market last year in an effort to diversify its portfolio, as the IT service sector has been almost saturated in Korea. Though the two sectors have little in common, the prospect for the solar business is quite bright, the firm said. |
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