Sunday, 13 January 2013

South Korean energy firm to build photovoltaic power plant in Daet

Photovoltaic power generating cell panels at a farm in the US. – Wikipediapic


A SOUTH Korean energy company will build a US$19 million, 5MW photovoltaic power plant in Daet, CamNorte. 

Photovoltaic systems (PV systems) use solar panels to convert sunlight into electricity.

A deal was recently signed between an unnamed group in the province and the S & W Power Inc, a Philippine-based energy company with South Korean owners.

Under the agreement, S & W Power will provide the necessary finances, technical study, installations to the group, which in turn will provide the needed land to be developed as photovoltaic power farm.

The South Korean firm was represented in the deal signing by Leekyu Kim, chairman, and Kwang Hyun Kim, vice-president.

The technology involved in PV power generation is readily available but has remained scarce in use in the country due to its high start-up cost.

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