By Abdullahi Lukman
South Korea plans to expand its renewable energy capacity to 100 gigawatts by 2030 as the government seeks to secure reliable clean power and strengthen the country’s appeal to global semiconductor, artificial intelligence and technology investors.
The Ministry of Climate, Energy and Environment will present the strategy at a roundtable on Aug. 26 in Seoul involving Samsung Electronics, SK hynix, Google, ASML and other semiconductor and advanced-industry companies.
The meeting, organised jointly with Semiconductor Equipment and Materials International (SEMI), will focus on improving access to renewable electricity for energy-intensive industries and strengthening South Korea’s competitiveness as companies face growing pressure to meet RE100 commitments and reduce emissions.
Under the government’s first Basic Plan for Renewable Energy, officials plan to accelerate renewable energy development by easing setback requirements that have delayed solar projects and expanding the use of factory rooftops, agrivoltaic systems and floating solar installations.
The government also intends to make more public and state-owned land available for renewable energy projects and establish planned development areas to reduce administrative barriers.
Energy-market reforms are also planned, including changes to the Renewable Portfolio Standard system and a shift towards long-term fixed-price contracts to reduce price volatility.
A power purchase agreement (PPA) brokerage market will also be introduced to make it easier for companies to obtain renewable electricity, while expansion of the national power grid will support rising demand from high-tech industries.
Lee Won-joo, head of the Energy Transition Policy Office at the ministry, said the government would overhaul industrial sites, energy markets and power infrastructure to create a more attractive investment environment for global high-tech companies.
The government is expected to review recommendations from participating businesses and incorporate relevant proposals into future energy policies and regulatory reforms.
