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    S. Korea Completes Renewables Plan

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    Joseph Afam (Local Contents and Partnership Editor) (070 3949 0464) Joseph Afam is a energy and finance journalist, who has years of experience in journalism, he started his journalism career in Nigeria’s top financial newspaper in Lagos. He’s a graduate of Economics and Finance from University of Ebonyi State, Nigeria He has won series of awards and regconitions Contact him for any editorial deals and advertorial issues on # Joseph.Afam@naija247news.com, editor@naija247news.com, Cell: 070 3949 0464

    Energy

    December, 30,2017

    S outh Korea has finalized a power supply plan that aims to make renewables the country’s fuel of choice for power generation for the next 15 years, its energy ministry said on Friday.  “We plan to carry out the country’s energy policy shift smoothly based on the outline of the plan,” the ministry said in a statement, Reuters reported. South Korea plans to meet 20% of its total electricity consumption with renewables by 2030. To achieve this goal, Asia’s fourth-largest economy aims to increase its installed capacity of renewable power to 58.5 gigawatts by 2030, from 11.3 GW this year. Last week, the energy ministry said the plan called for adding 30.8 GW of solar power generating capacity and 16.5 GW of wind power capacity. South Korea now generates more than 70% of its power from coal and nuclear, while renewables account for 6%. Under the plan, coal’s share of power generation will fall to 36.1% in 2030 and nuclear to 23.9%.

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