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  • Seoul Retains 300 Billion Won in Investments from the Private Sectors for Solar Energy Development

  • Integrated News SMG 1789

    The city of Seoul’s representative announced that the city along with Kim Sang-beom (Vice MayorⅠfor Administrative Affairs), Baik Woo-sug (CEO of OCI Inc.), and Kim Jeong-uk (CEO of Energy and Peace) signed the Memorandum of Understanding (MOU) on investing approximately 300 billion won until 2014 in installing a 100MW solar power facility. The MOU was signed in the Small Conference Room in the City Hall Annex Building at 10:30 AM on the 6th (Thursday).

    OCI Inc. is a global green energy chemical company (certified by the government as Korea’s No. 1 Green Company) that produces polysilicon, vacuum insulators, sapphire ingots, etc. in the renewable energy sector and other products in the oil and coal chemicals sector and in the inorganic fine chemicals sector.
    Energy and Peace was founded in 2006 with the purpose of bringing in an energy welfare society by amplifying and providing renewable energy to the third world and people who are suffering from energy shortages. The company established and is operating a solar power plant called the, “Energy Share Power Plant,” for public interest. The company is also in partnership with OCI for social welfare activities.

    The city of Seoul’s representative expects that through the MOU for solar power investment and financial support from Hanwha Solar, which was signed on August 13th, the total investment of 600 billion won from the private sector will be a great workhorse for the development of the new renewable energy-related industries by securing 62.5% of 320MW, which is our installation target by 2014.