South Korea will spend US$103 billion through 2030 in developing new renewable energy, to cut its reliance on fossil fuels and reduce carbon dioxide (CO2) emissions. The new plan, announced on Wednesday, is part of a long-term energy strategy and will come on top of other energy policies and overseas resource development plans. Capacity for solar, wind, bio and geothermal power generation will be expanded.
South Korea wants to lower the portion of fossil energy to 61 percent by 2030 from the current 83 percent, while bumping up the portion of new renewable energy to 11 percent, according to Reuters.
The new focus on renewable energy means the South Korean government will increase the proportion of solar energy 44-fold, wind power 37-fold, bioenergy 19-fold, and geothermal energy 51-fold.
In the sectors of wind power, tidal energy and bioenergy, South Korea plans to make it mandatory for energy providers to use a baseline percentage of new and renewable energies starting 2012.
(Image of the new Seoul City Hall to be constructed from Naver.com)
Looking more closely at the plans, it is evident that nuclear power is part of the mix (something Reuters does not mention). JoongAng Daily notes that the country proposes 10 new nuclear reactors by 2030, which will cost $102.8 billion:
Currently, there are 20 nuclear reactors in operation in Korea, but the government said that it will increase their capacity to equal the two 1.4 million kilowatt capacity Shingori Nuclear Power Plants being built in Ulsan. The two plants are scheduled to be in operation by 2013, at the earliest.
The government wants to build 10 new 1.4 million-kw-class nuclear power plants by 2030, to increase the percentage of nuclear power generation nationwide from 36 to 59 percent. Anti-nuclear groups like Green Korea have their work cut out for them.
Written by Martin Frid at greenz.jp