Vena Energy Signs Memorandum of Understanding with Kowepo for The Development of Two Wind Projects in South Korea – EQ Mag Pro
Vena Energy and Korean Western Power Co., Ltd (hereafter KOWEPO) jointly announced today the signing of a Memorandum of Understanding (MOU) for the development of a 53 MW wind project in the Gangwon Province, and 40 MW wind project located in the Gyeongsangbuk Province.
With the signing of the MOU, Vena Energy and KOWEPO also agree to collaborate on future renewable energy projects across South Korea.
KOWEPO is a leading supplier of energy, providing approximately 8.7% of South Korea’s national generating capacity for residential, commercial, and industrial use. The partnership will leverage KOWEPO’s experience and expertise in the South Korean market for the development of the two wind projects.
Laying the groundwork for the wind project in the Gangwon Province, Vena Energy has conducted successful wind measurement studies to ascertain the feasibility of the project, as well as securing the necessary business permits for its development. Vena Energy has also conducted numerous engagement and social activities within the local communities, including the sponsorship of a local “Arirang Market”, organizing field trips for local residents to visit the project site, as well as providing the community with essential items during the winter season such as blankets, bedspreads, and a donation to the local Red Cross in the Yeongwol County.
“We are honored to sign this MOU with KOWEPO for the wind projects in the Gangwon and Gyeongsangbuk Province. With our expertise in wind power development across Asia-Pacific, combined with KOWEPO’s experience in energy supply and management, we believe that our partnership will help accelerate South Korea’s transition towards renewable energy by 2050.” Said Kwangjin Cheong, Head of Vena Energy Korea. “We look forward to engaging with our local communities throughout the entire process and contributing to the local economy through job creation and social activities.”
The wind projects in the Gangwon and Gyeongsangbuk Province are expected to produce more than enough renewable energy to power up to 36,075 Korean households yearly, while their combined generation capacity will be equivalent to reducing approximately 100,720 tonnes of greenhouse gas emissions, as well as saving more than 144 million litres of water per year, compared to thermal generation.
Source: venaenergy
