Eurus Energy To Start Photovoltaic Power Generation Business In Korea
Eurus Energy Group of Japan, which has specialized in the development of wind power generation since it was established in 2002, announced that it has entered the photovoltaic power generation field. As the first step in this business, Eurus (a joint venture of Tokyo Electric Power and Toyota Tsusho) will construct a photovoltaic power generation station with an output of 1MW in Jeollabuk-do in Korea, with commercial operation scheduled to start in June 2008.
Eurus currently operates plants in six countries with a total capacity of 1,336MW (352MW in Asia, 344MW in the United States and 640MW in Europe). The Korean government has established a goal of procuring 5% renewable energy out of it total power generation consumption by the year 2011, with respective targets of 1,700MW for wind power energy and 1,000MW for photovoltaic power energy.
In order to facilitate the serious development of the photovoltaic power generation business in Korea, Eurus has established the Eurus Energy Korea Corp. (Seoul) as an overseas subsidiary company. In addition to constructing the largest wind power generation plant in Gangwon-do, in the northeast of South Korea, the company states that it is pursing an aggressive development program in other locations in the country. This has resulted in the decision to proceed with the photovoltaic power generation business in Sunchang-gun, Jeollabuk-do, Korea, which is one of the areas with the highest volume of photovoltaic radiation throughout the year in Korea.
