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Samsung C&T, the South Korean electronic company’s unit, is said to be thinking of establishing its own solar power plants that will entail a $673 million investment. The plan is to set it up in Texas, U.S.A. and the main goal is to sell the harvested electricity to the said state starting in December 2023.
The news was first reported by Reuters after reviewing documents related to Samsung C&T’s possible construction of solar power plants in the U.S. In case the project pushes through, the plants will be set up in Milam County, which is just a 2-hour drive from Samsung Electronics’ chip factory.
Solar factory details
Based on the report, the Samsung C&T will start construction in June 2022 once everything is finalized. The plants are estimated to have a capacity for the generation of 700 megawatts of electricity.
At this point, the S. Korean company is working on the approval of building the solar power plants in Texas. This has been confirmed by a company official, but it was mentioned that Samsung Electronics is not talking about the project that its renewable firm unit is trying to get investors for.
This is a good investment for Samsung as the solar and wind power business is predicted to become even bigger since more and more nations around the world are starting to ditch fuel fuels to help save the Earth. Many companies are shifting to cleaner renewable sources of power as this is the only way to help stop global warming.
Samsung C&T vowed to contribute to the reduction of carbon footprints
The company said in October of last year that it would put its coal-related projects on hold, and this includes the ones it invested in. Along with Intel and Taiwan Semiconductor Manufacturing Co. (TSMC), Samsung Electronics vowed to amplify the utilization of renewable energy to lower their carbon emissions.
At any rate, Maeil Kyeongje News also obtained the documents that Samsung C&T submitted for its plan to build its Texas solar power plants. It was said that the power that the plants will generate is enough to supply electricity to 200,000 households in the region.
Finally, under the investment venture, Samsung C&T will construct solar power farms across three zones in Texas, and their total area is 21.8 million square meters.
