Suntech completes first phase of (3 MW) WEPCO solar installation (in South Korea)

Suntech completes first phase of WEPCO solar installation

Filed from Houston 11/9/2007 11:04:59 PM GMT

SOUTH KOREA: Suntech Power Holdings Co. Ltd. completed the first stage of a 3-MW solar energy system for Korea Western Power Co. Ltd. (WEPCO), a subsidiary of Korea Electric Power Corp., South Korea's largest power company. The opening ceremony for the initial 2-MW installation of WEPCO's new solar energy system was celebrated in Samryangjin, South Korea, on Nov. 6.

Power and Industrial Systems Performance Group of Hyosung Corp. designed, managed and installed the solar energy system. Suntech will deliver a further 1 MW of photovoltaic (PV) modules to be installed in the second phase of the project in early 2008.

Suntech explained, "South Korea offers among the strongest solar incentive programs worldwide with a feed-in-tariff of more than US$0.70/kWh over a 15-year period for installations above 30 kW. South Korea has set impressive targets for PV installations with a goal of 1.3 GW of installed capacity by 2011."