South Korea has launched the country's largest and most advanced solar power plant that can generate 30 megawatts of electricity amid increasing worries over climate change and high oil prices, the Korea Herald reported on Wednesday.
According to the Ministry of Commerce, Industry and Energy, it completed a plant in Daegu which has the capacity to generate 30 megawatts of electricity with solar cells on Tuesday.
The ministry said it believes the new solar power plant will help elevate the standards of the country's solar energy industry, and signals the growing interest of local companies in producing key components for the market.
South Korea first stepped into the industry in 2003, and began domestic production of polysilicon in 2007.
The ministry estimated that the new plant will generate 60 billion won (63 million U.S. dollars) in sales this year, and have the power to supply energy to 12,000 homes. The investment in the plant is worth about 40 billion won (42 million dollars).
