Korea Southern Power Co. (KOEN) has broken ground on the “Haenam Renewable Energy Complex Solar Power Project,” a 400-megawatt (MW) facility that is the largest single-site solar project in South Korea, it is reported. Electricity generated at the site is set to be supplied to SK hynix under a renewable energy power purchase agreement (PPA), according to reports.
The project will build 400 MW of solar generation capacity, comprising 390 MW of general solar and 10 MW of agrivoltaic (farming-combined) solar, on 4.79 million square meters (about 1.45 million pyeong) of reclaimed saline land in Munnae-myeon and Hwangsan-myeon, Haenam County, South Jeolla Province, it is reported. The groundbreaking ceremony was held on August 7, 2026, with KOEN serving as the project developer. The specific manufacturer of the solar modules and inverters has not been disclosed.
The project reportedly incorporates a local benefit-sharing model in which residents of Munnae-myeon and Hwangsan-myeon can participate through bond investment, sharing in project revenue in the form of so-called “sunlight income” over the 20-year operating period.
Amid growing RE100 compliance demand from Korea’s semiconductor industry, the project is seen as an example of direct power supply through a PPA between a large-scale solar complex and a corporate offtaker. Implications for Korea’s Industry
Large-scale solar development on reclaimed land combined with a local resident revenue-sharing model is cited as a potential reference case for similar future projects.
Attention is focused on whether the August 2028 commercial operation target will be met, and on when the actual start of power supply to SK hynix will be confirmed after completion.