Renewable energy [Korea Power Exchange]
Renewable energy [Korea Power Exchange]

South Korea's renewable energy installed capacity surpassed that of coal for the first time Wednesday, the Korea Power Exchange said.

Renewable energy installed capacity stood at 40,140 MW as of Wednesday, edging ahead of coal's 40,757 MW by 283 MW, the Korea Power Exchange said.

Renewable energy now accounts for 25.4 percent of total installed generation capacity, making it the country's second-largest power source by capacity, behind only LNG.

LNG installed capacity stands at 46,788 MW, leaving a gap of 5,748 MW with renewable energy.

The Korea Power Exchange said the steady expansion of renewable energy deployment since the early 2010s is reshaping the country's power generation mix.

It added that the growth of solar and wind power into major domestic energy sources marks a significant milestone.

From the end of 2020 through last year, renewable energy added an average of about 3,504 MW of installed capacity per year — 4.3 times the roughly 807 MW annual increase recorded for LNG over the same period.

The Korea Power Exchange said that if current expansion trends continue, renewable energy could overtake LNG within two to three years to become the country's largest power source by installed capacity.

"We plan to closely monitor renewable energy deployment trends, strengthen public information disclosure, and communicate with industry and related agencies to support the continued expansion of renewable energy — all in order to help the government meet its target of 100 GW of renewable energy by 2030," the Korea Power Exchange said.


oskymoon@heraldcorp.com