PowerLight Completes 2.2 Megawatt Solar Power Plant in Korea
SunPower Corporation, a Silicon Valley-based manufacturer of
high-efficiency, commercially available solar cells, solar panels, and
solar systems, today announced that its subsidiary, PowerLight Corporation, has
completed construction of Mungyeong SP Solar Mountain, a 2,2-megawatt solar
electric power plant in Mungyeong, Korea. The plant is comprised of 10,500
panels and covers an area of approximately 43,000 square meters.
PowerLight worked as a subcontractor to LG CNS Co., Ltd, by supplying
solar technology and providing design and installation services. SunPower
panels, using high efficiency solar cells, are mounted on the proprietary
PowerTracker(R) solar tracking system, which tilts the solar panels toward
the sun as it moves across the sky, significantly increasing daily energy
production compared with fixed-tilt systems.
SP Energy, Korea's largest private solar plant operator, owns the plant
and is selling the electricity it generates to the Korea Power Exchange. SP
Energy receives the wholesale market rate for the electricity from Korea
Electric Power Corp. as well as a per-kilowatt-hour subsidy payment from
the Korea Energy Management Corp. The project was financed by a fund raised
from institutional investors and managed by Good & Rich Asset Management.
The City of Mungyeong also offered its support throughout all stages of
"The combination of an optimal solar location in Mungyeong and the
PowerTracker system with SunPower's high-efficiency modules will produce
excellent financial returns for our investors," said Song Woo Keun,
president and chief executive officer of SP Energy.
"LG CNS expects the solar industry in Korea to exhibit strong growth.
We believe that the main success factor of this project is that we chose
PowerLight as the subcontractor," said Kim Yang Ho, director of the
Construction Division at LG CNS Co. Ltd.
"Korea is committed to becoming a world leader in solar-electric power
generation," said Zachary Struyk, PowerLight's general manager in Korea.
"We are pleased to help the country achieve its goals with the development
of utility-scale power plants that serve Korea's power needs with reliable,
clean and affordable solar energy."
The Mungyeong SP Solar Mountain is the second major solar power plant
designed and deployed by PowerLight in Korea in recent months. In November
2006, a one-megawatt project in Gwangju, Korea, was officially dedicated.
acquired PowerLight in January 2007, expanding SunPower's
business from the manufacture of high efficiency solar cells and panels to
include a portfolio of proven solar technology and systems.
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