Government 5th New and Renewable Energy Basic Plan (2020~2034) announced
Good news for Jeollabuk-do and Saemangeum for promoting renewable energy clusters
Saemangeum is expected to be spotlighted in line with regional-led new renewable expansion
Expected synergy such as full-fledged RE100 and expansion of green hydrogen connection
As the government announced plans to increase the share of renewable energy generation nearly five times over the next 15 years, it is expected that the new and renewable energy projects that Jeonbuk-do promotes in Saemangeum will receive momentum. In particular, the government decided to increase the profitability of the new and renewable energy business in order to implement the plan and to substantially loosen related regulations, and some say that Saemangeum has gained wings.
The government held a new and renewable energy policy council on the 29th and deliberated and confirmed the 5th basic plan for the development, use and distribution of new and renewable energy technologies. The new and renewable energy basic plan is established every 5 years for a period of 10 years or more, and in connection with the basic energy plan, the mid- to long-term goals and implementation plans of the new and renewable energy field are suggested.
In this plan, the government aims to accelerate the transition to a low-carbon society and economy based on five major innovations in the supply of new and renewable energy, market, demand, industry and infrastructure.
In accordance with the 9th power plan, the target for the share of new and renewable energy generation in 2034 was set at 25.8% (renewable energy 22.2%, new energy 3.6%). As of 2034, the capacity of new and renewable energy (for business + private use) is 82.2GW, which is about five times that of 5.6% (19.7GW) last year.
In this plan, Saemangeum is expected to be in the spotlight as the government announced the establishment of a regional energy center and the strengthening of incentives for excellent local governments.
Jeonbuk-do is promoting the Saemangeum solar power project, including the energy industry convergence complex, the national comprehensive energy industry demonstration complex, and the green hydrogen production cluster, which are created as part of the southwest offshore wind power project and the Saemangeum renewable energy cluster construction project. It is an analysis that in the field of new and renewable energy, an integrated space like Saemangeum cannot be easily found.
In addition, regarding the announcement that it will reorganize the new and renewable energy supply obligation (RPS) market, focusing on competitive bidding and long-term contracts in order to enhance the profitability of business operators, Saemangeum is evaluated as an attractive investment destination.
It is also possible to serve as a test bed for research bases and demonstration complexes, such as expanding the potential for achieving carbon neutrality in 2050, which the government promotes, technology advancement, and power system construction. As most of the new and renewable energy initiatives announced by the government in this plan, such as the full-fledged RE100 and the expansion of green hydrogen connections, are in line with projects that are led by Saemangeum and Jeollabuk-do, the new and renewable energy sector will be decided according to the future response and preparation of Jeonbuk. It is expected to be an opportunity to lead.