Suntech Power Holdings Co. Ltd., a manufacturer of photovoltaic cells and modules, has completed the first stage of a 3 MW solar energy system for Korea Western Power Co. Ltd. (WEPCO). WEPCO is a subsidiary of Korea Electric Power Corp., South Korea's largest power company.
The power and industrial systems performance group of Hyosung Corp. designed, managed and installed the first 2 MW of the solar energy system. Suntech will deliver a further 1 MW of PV modules to be installed in the second phase of the project in early 2008.
South Korea offers among the strongest solar incentive programs worldwide, with a feed-in tariff of more than $0.70/kWh over a 15-year period for installations above 30 kW. The nation has set impressive targets for PV installations, with a goal of 1.3 GW of installed capacity by 2011.