Seoul (AFP) April 27, 2011
South Korea's largest business group Samsung signed an initial deal Wednesday to invest $7.04 billion in a state project to build a green energy complex on reclaimed wetland.
Samsung signed a memorandum of understanding with the government to spend 7.6 trillion won ($7.04 billion) on the construction of eco-friendly production facilities from 2021, the prime minister's office said.
The government will provide full administrative support plus a plot at the reclaimed Saemangeum wetland area on the west coast, about 200 kilometres (125 miles) south of Seoul.
Samsung said its green-energy development would have a wind-power generator, a production base for solar batteries, a research institute and houses for about 20,000 workers.
It said the investment was in line with its announcement last year to spend about 23 trillion won on new growth engines such as health care and green energy over the coming decade.
Samsung's investment is expected to speed up the massive government project to turn the reclaimed area into an eco-friendly town with industrial, tourism and agricultural facilities as well as science and research institutes.
The reclamation included the building of a 33.9 kilometre (20 mile) sea dike, which was completed in 2006.
Last August OCI, South Korea's leading maker of polysilicon used in solar panel cells, announced a plan to invest some 10 trillion won in the area by 2020.
Share This Article With Planet Earth
Powering The World in the 21st Century at Energy-Daily.com
Say hello to cheaper hydrogen fuel cells
Los Alamos NM (SPX) Apr 26, 2011
Los Alamos National Laboratory scientists have developed a way to avoid the use of expensive platinum in hydrogen fuel cells, the environmentally friendly devices that might replace current power sources in everything from personal data devices to automobiles. In a paper published in Science, Los Alamos researchers Gang Wu, Christina Johnston, and Piotr Zelenay, joined by researcher Karren ... read more
Majority of European firms fail on carbon reporting: study|
NASA Releases Scorecard On Energy And Sustainability Goals
Coal miners cold on Australia carbon tax
Nonprofits Awarded For Energy Efficiency And Water Conservation
In jumpy gulf, Sunni-Shiite tensions rise
BP raises profits, Gulf oil spill costs
BP logs soaring profits, but upgrades oil spill costs
Scientists Focus on Light Ions for Fast Ignition of Fusion Fuels
Better understanding turbine wakes
Google, Japanese invest $500 million in wind farm
Manitoba wind farm comes online
Alstom Announces Commercial Operation Of First North American Wind Farms
UNI-SOLAR Brand PVs Installed on Eurocopter Logistics Center
Solar power goes viral
Let's Talk About Solar Subsidies in Context
Lubi is World's Most Efficient Solar Device
Risks remain at Japan's nuclear plants
NASA Technology Looks Inside Japan's Nuclear Reactor
TEPCO ill-prepared for crisis: Japan nuclear advisor
Putin wants to export 'world best' Russian nuclear safety
Food vs fuel: the debate is over
Holmen Invests in Biofuel Boiler
Chicken Fat Fuel Emissions Look Cleaner And Greener
Walki Biomass Cover: Improves Drying Process And Energy Content Of Energy Wood
Asia's star ever brighter in space
What Future for Chang'e-2
China setting up new rocket production base
China's Tiangong-1 To Be Launched By Modified Long March II-F Rocket
Turning Up The Gas
Contemporary climate change alters the pace and drivers of extinction
Effect of ocean CO2 on climate studied
Europe prays for Easter rain in worst drought for a century
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement|