BayWa r.e. completes construction and sale of first South Korean solar project
Global renewable energy developer, service provider and distributor, BayWa r.e., has completed construction of its first solar park in South Korea and the project is now fully operational as part of the company’s ambitious expansion across Asia Pacific. Adding the 1 MW ground-mounted solar project to the grid in Cheorwon-gun, Gangwon-do sets the stage for upcoming solar and wind projects in Korea.
This was made possible thanks to close ties to local authorities, communities, and businesses. Applying global expertise with local knowledge is a formula that’s worked well across the region.
ChanSoo Larry Kim, Head of Project Development at BayWa r.e. Korea Co., Ltd. said, “Completing this project relatively quickly since our market entry to South Korea in late 2019 showcases one of our key strengths at BayWa r.e., which is the synergy of global expertise and flexible strategy for each market.
“I’m also thrilled to say this project is already sold to an investor. Our next step will be expanding the existing pipeline not only in terms of capacity but without limitation of applications such as floating-PV or Agri-PV. We are also keen to support more corporate customers who are encountering RE100 or carbon neutral topics.”
BayWa r.e. Korea Co., Ltd. has recently moved to a larger office in TwinCity Namsan near Seoul station and the team expects to grow beyond 20 employees within the end of the year. The company is also seeking to invest into onshore and offshore wind energy.
These future projects follow South Korea’s pledge to take the country carbon neutral by 2050.
Daniel Gaefke, APAC Director, BayWa r.e., said, “we place a high priority on our relationship with local communities. The goodwill and ambition to hit climate targets are there at the highest levels. BayWa r.e. are delighted to play a role in supporting South Korea’s renewable energy plan.”
BayWa r.e. AG (BayWa r.e.):
At BayWa r.e we r.e. think energy – how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet.
We are a leading global developer, service supplier, distributor and solutions provider and have brought over 4 GW of energy online and manage over 10 GW of assets. We are also an Independent Power Producer with an expanding energy trading business.
BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey.
Every day, we are working hard to actively shape the future of energy in a diverse, equitable and inclusive workplace.
Our shareholders are BayWa AG, a €17 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment.
PRecious Communications for BayWa r.e. AG
Tan Yanchang / Foo En Jing
Tel: +65 6303 0567