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    Global Coal-Fired Electricity Making Hits New Peak In 2021

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    To Get Net Zero By 2070, India Needs To Invest $20 Trillion

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    German Chancellor Says Growing Nuclear Power May Make Sense

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    With USD 226bn, Global Renewables Funding Sets A New H1 High

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    Germany Wins EU Approval For EUR 2.98bn Green Heating Plan

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    African Nations Anticipate Increasing Fossil Fuel Output

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    2022 Will See A 3.4% Increase In Electricity Demand In APAC

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    Black Power- German Fossil Fuel Plans Encounter Obstacles

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    Refiners Should Not Be Making Above Normal Profits- Biden

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    Cluster of Businesses Want The EU To Improve Energy Security

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    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Italy’s Innovatec targets EUR 100m in revenue from new solar business

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

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    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

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    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    Global Coal-Fired Electricity Making Hits New Peak In 2021

    Global Coal-Fired Electricity Making Hits New Peak In 2021

    To Get Net Zero By 2070, India Needs To Invest $20 Trillion

    To Get Net Zero By 2070, India Needs To Invest $20 Trillion

    German Chancellor Says Growing Nuclear Power May Make Sense

    German Chancellor Says Growing Nuclear Power May Make Sense

    With USD 226bn, Global Renewables Funding Sets A New H1 High

    With USD 226bn, Global Renewables Funding Sets A New H1 High

    Germany Wins EU Approval For EUR 2.98bn Green Heating Plan

    Germany Wins EU Approval For EUR 2.98bn Green Heating Plan

    African Nations Anticipate Increasing Fossil Fuel Output

    African Nations Anticipate Increasing Fossil Fuel Output

    EGing to invest over US$144 million in major manufacturing upgrades and relocation

    Trade Wars Cause A 55% Drop In U.S. Clean Energy Projects

    2022 Will See A 3.4% Increase In Electricity Demand In APAC

    2022 Will See A 3.4% Increase In Electricity Demand In APAC

    Black Power- German Fossil Fuel Plans Encounter Obstacles

    Black Power- German Fossil Fuel Plans Encounter Obstacles

  • Market Moves
    Refiners Should Not Be Making Above Normal Profits- Biden

    Refiners Should Not Be Making Above Normal Profits- Biden

    Cluster of Businesses Want The EU To Improve Energy Security

    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Italy's Innovatec targets EUR 100m in revenue from new solar business

    Italy’s Innovatec targets EUR 100m in revenue from new solar business

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

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South Korea To Grow Nuclear Energy Share Mix To 30% By 2030

in Featured, News, Nuclear Power
South Korea To Grow Nuclear Energy Share Mix To 30% By 2030

The industry ministry announced on July 5th that South Korea intends to expand the share of nuclear power in the nation’s energy mix from 27% to 30% or more by 2030 and pledged to resume halted building work on two reactors.

Yoon Suk-yeol, the country’s next president, has pledged to increase investment in the nuclear energy sector and restore South Korea’s position as a major exporter of secure reactors. Yoon Suk-yeol has opposed the idea of transitioning out of nuclear energy. The pro-nuclear energy policy U-turn in the fourth-largest economy in Asia comes after Yoon won the March presidential election with the narrowest margin in South Korea’s democratic history.

In the wake of Japan’s Fukushima tragedy in 2011, which led to a worldwide recession in the nuclear power industry, the former Seoul administration attempted to reduce the use of nuclear power. The ministry announced that South Korea would extend the operations of its current reactors while resuming construction on two new reactors, Shin Hanul 3 and 4.

The country intends to decrease its reliance on imports of fossil fuels from 81.8% to roughly 60% by 2030, the ministry said, while increasing the role of nuclear energy. As the global carbon neutrality pattern continues and global energy supply chain volatility develops owing to the Russia-Ukraine crisis and other issues, the importance of energy policy in attaining energy security and carbon neutrality goals is more critical than ever.

The ministry will also review the renewable energy targets set by the previous administration and choose new, more specific targets for solar and wind power. According to a representative of the industry ministry, the amount of renewable energy in the nation’s energy mix will be realistically lowered to below 30% by 2030, down from 6.3% last year and the previous administration’s high 2050 target of 60.9-70.8%.

According to the government, coal prices would be fairly lower while taking supply and demand factors into account. As per the state-run Korea National Oil Corp (KNOC), South Korea is the fourth-largest oil importer in the world after China, India, and Japan, and its state-run Korea Gas Corp (KOGAS) is the single largest corporate buyer of liquefied natural gas (LNG) in the world.

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