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Korea Western Power will invest 250 billion won in constructing three fuel cell-based electricity generation facilities in efforts to increase its renewable power generation capacity to 6.1 gigawatts by 2030 from 490 megawatts as of 2019.
The three fuel cell power plants will be constructed in Iksan, North Jeolla Province; Hwaseong, Gyeonggi Province; and Goryeong, North Gyeongsang Province.
The 15-megawatt plant in Iksan will cost 99.2 billion won and is set to be completed in December.
In Hwaseong, Kowepo will invest 96.4 billion won to add additional 20 megawatts to the 20-megawatt plant set to be finished in April .
Kowepo will invest 57.6 billion won to the 9-megawatt Goryeong project, which will break ground in May and set for completion in April next year.
The plants will be operated by Kowepo for 20 years and are estimated to yield annual net profits worth 8.7 million.
