POSCO is entering the market for solar-power generated electricity, the company said yesterday.
The company has installed 1-megawatt solar-power equipment on the roof of a warehouse at its plant in Gwangyang, South Jeolla Province. It plans to install another in Pohang.
The company aims to generate 2,500 megawatt-hours a year through the solar panels, enough to provide electricity for 500 households.
POSCO expects the facilities to bring in additional revenue of 1.6 billion won ($1.6 million), while reducing greenhouse emission gases by about 1,600 tons a year.
It is the first company in Korea to utilize the roofs of its factories for solar-power generation.
The steelmaker has been investing in developing renewable energy sources.
Last year, it opened a hydropower station at its Gwangyang factory, equipped with two 300-kilowatt generators that use the plant's daily 170,000-ton water supply to generate 4,835 megawatt-hours of electricity on an annual basis.
Its subsidiary POSCO Power is currently building a 120 billion won eco-friendly fuel cell plant in Pohang, the world's first mass production facility for fuel-cell power generation. The plant - with the first stage scheduled for completion in August 2008 and the second in 2010 - is envisioned to produce an annual 100 megawatts of power by 2010.
POSCO is the world's fourth-largest steelmaker. It is based in Pohang, North Gyeongsang Province.
Korea herald, POSCO taps solar energy, Lee Sun-young, 2008.06.05
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We are lived in the civilization of oil. Because of oil, our price level is moved, and we may experience economic difficulty. Because of oil, we attack other country, and too many people was died.
But we need oil until we made alternative eneregy. If we want to eat fruit, we transport by car. It need oil, too. High oil price may increase our cost and it is threat for many industry. It is bad to business people, and it also bad for many consumer.
This is reason why we made alternative energy. It help not only to business, but also whole economics. Money is move to alternative energy, and price of alternative energy stock is still high, we consider about using alternative energy.
20300393 Lee Kun Bae 13th entry
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