January 3 (Renewables Now) - The South Korean government on Friday finalised a plan that will make renewables a leading power generation source by 2031 and gradually phase out nuclear and coal power plants.
The 2017-2031 plan envisages that renewables in the country will have a 20% share of its total power mix by 2030. Its draft version was released by the government last month.
South Korea intends to lift its installed renewable power capacity to 58.5 GW by 2030 from 11.3 GW currently. The plan envisages the addition of 30.8 GW of solar photovoltaic (PV) and 16.5 GW of wind power capacity in an effort to put “more emphasis on issues related to the environment and safety," the ministry of trade, industry and energy said previously. Safety concerns in the country are growing after several strong earthquakes hit the southeastern region this and last year.
At present, South Korea sources 30% of its total power from nuclear energy, while 37.5% comes from coal. The share of renewables is only 6.2%. The country will work to shut down its 10 oldest nuclear reactors by 2030 and close several coal power facilities. The targeted 2030 mix, apart from 20% renewables, includes 36.1% coal, 23.9% nuclear and 18.8% LNG.