KOSPO, 1st Korean Power Co. to Enter Middle Eastern Wind Farm Market
A view of a 3.45MW wind farm in the Tafila area in Jordan. (Photos: KOSPO)
Korea Southern Power Co. (KOSPO) held a ceremony to dedicate a 3.45MW wind farm in the Tafila area in Jordan at W Hotel in Amman on Sept. 7.
Among about 200 people on hand at the event were KOSPO President Lee Seung-woo, Korean Amb. Lee Jae-wan to Jordan, and Jordan Minister of Energy and Mineral Resources Hala Zawati.
KOSPO and DL Energy each have a 50 percent stake in a project to develop, construct and operate 15 wind power generators with a combined facility capacity of 51.75MW in the Tafila area in Jordan.
The project cost a combined 120 billion won. KOSPO is expected to earn about 360 billion won by selling electricity produced from the wind farm to Jordan National Electric Power Co. for 20 years after dedication.
KOSPO obtained the green light on the project from the Jordan government in 2015. The Korean power company succeeded in signing a power purchase agreement, raising funds and launching the project through three years of strenuous negotiations.
But the project suffered a setback when the Jordan government suspended the project and closed its borders to prevent the spread of COVID-19 pandemic, causing difficulties related to manpower and supply of materials, parts and equipment.
KOSPO managed to dedicate the project by overcoming the crisis by allowing construction crew to enter Jordan though negotiations with the Jordan government and hiring local residents.
The operation of the wind farm will supply clean renewable energy to about 50,000 household in the Tafila area, and about 40 local residents responsible for maintenance, logistics and security will be hired to promote shared growth with the local community.
KOSPO dedicated the Jordan wind power farm after the power company finished a photovoltaic power plant project in Chile in 2020.
KOSPO plans to devote itself to contributing to carbon neutrality by accelerating efforts to expand its overseas renewable energy business and conduct ESG projects.
Dignitaries, including KOSPO President Lee Seung-woo, Korean Amb. Lee Jae-wan to Jordan, and Jordan Minister of Energy and Mineral Resources Hala Zawati, attend a ceremony to dedicate a 3.45MW wind farm in the Tafila area in Jordan at W Hotel in Amman on Sept. 7.
KOSPO President Lee said, “It takes on significance since KOSPO carried out all processes related to the Daehan Wind Power Project, the first Korean power company’s wind project in the Middle East, ranging from the securing of a site to licenses and permissions on its own.”
The project will pave the way to expand businesses to regions such as the Middle East and North Africa, he added.
Meanwhile, KOSPO has been pushing for a plan to build 100 wind power units in Korea to expand the Korean wind power industry since 2011.
KOSPO is a leading wind power provider with a combined facility capacity of about 3.3GW.
KOSPO’s implementation of the Daehan Wind Power Project is owed to capabilities the power company has accumulated and joint market entry with Korean companies.
It had a track record of dedicating another wind power project, serving as an opportunity to expand overseas renewable energy projects.
KOSPO Seals MOU on Carbon Neutrality with KIER
KOSPO signed an MOU on cooperation to spearhead carbon neutrality with Korea Institute of Energy Research (KIER) on Sept. 3.
Both sides agreed to jointly carry out development of hydrogen convergence power generation technologies and verification projects, develop greenhouse gas capture, storage and utilization technologies, and collaborate in exchange of related technology and consulting.
The two institutions plan to push for the R&D on ammonia-based fuel cell power generation technologies and fuel cell carbon capture facilities in earnest to spearhead carbon neutrality and aggressively reinvigorate the hydrogen economy and create jobs by exploring diverse hydrogen convergence technologies and jointly implementing verification projects.