KOWEPO is involved in constructing the Al Ajban Solar Photovoltaic (PV) Park, a solar power facility slated to break ground in the second half of 2024. Upon its launch in 2026, the Korean company will supply the electricity generated at the Al Ajban Solar PV Park to Emirates Water and Electricity (EWEC).
Spanning an area of 20 million square meters, equivalent to the size of a small city, the power plant is expected to generate an average of 4,500 gigawatt-hours of electricity annually. KOWEPO is a major shareholder of the Al Ajban Solar PV Park project along with Masdar, a renewable energy company in the UAE, and EDF Renewables, a subsidiary of French energy giant Electricite de France (EDF). About 1 trillion won ($721.1 million) will be invested in construction.
The electricity produced over the next 30 years will be purchased by EWEC, with the Abu Dhabi government guaranteeing the deal. The expected revenue from electricity sales is valued at over 3 trillion won.
"I am proud that we are leading the decarbonization transition in the UAE alongside Masdar and EDF," said Park Hyeong-deok, president of KOWEPO. The Korean firm aims to provide domestically made products as equipment for the construction project of the Al Ajban Solar PV Park.
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