South Korea targets 58.5GW of renewables by 2030

December 18, 2017
Facebook
Twitter
LinkedIn
Reddit
Email
Solar park in South Korea. Credit: Conenergy.

The South Korea Ministry of Trade, Industry and Energy has announced its 8th long-term plan for electricity supply and demand, including environmental and safety factors, stable power supply and economic efficiency.

The biennial draft reveals South Korea’s intention to increase production from renewable energy sources with natural gas while reducing its reliance on coal and nuclear power.  

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The project plan for power generation is based on an estimated forecast for power generation over 15 years up until 2031.

The Government’s target is to generate 20% of electricity from renewable energy sources by 2030. The aim for natural gas share is 18.8%, with coal expected to be at 36.1% and nuclear power 23.9%.

Installed capacity of renewable energy will be raised from 11.3GW to 58.5GW between 2017 and 2030 with the increase largely coming from solar and wind power.

Over the period, installed capacity of nuclear power generation would contract to 20.4GW from 22.5GW as five new reactors enter operation while 11 reactors, at the end of their lifetime, are taken off line.

The plan for renewables will see an increase by 2030 accounting to 33.7% of installed energy capacity. Nuclear reactor and coal-fired plants would decrease from 50.9% to around a third of the mix.

There are no significant factors for electricity rate hikes from energy transition toward renewable energy until 2022 in the plan. An estimated rise of rates of 10.9% by 2030 is slower than a 13.9% increase in the past 13 years. 

The 8th Basic Plan was submitted to the trade and energy subcommittee of the National Assembly’s Trade, Industry, Energy, SMEs, and Start-ups Committee on 14 December and will undergo a public hearing on 26 December. 

Recently, plans were released to invest US$1.55 billion in South Korea’s capital Seoul to install 1GW of PV generation by 2022.

Read Next

October 24, 2025
The Saudi state-owned renewables developer Masdar has begun construction on a giant solar-plus-storage project in Abu Dhabi.
October 23, 2025
Infrastructure investment firm Nuveen Infrastructure has secured US$171 million in financing for a 137MW solar PV plant in South Korea.
October 23, 2025
Spanish power electronics specialist Ingeteam has won a contract to supply inverters and control systems for European Energy Australia's 100MW Winton North solar-plus-storage project in northeast Victoria.
October 23, 2025
Powerlink Queensland is seeking federal approval to expand its existing 330kV Bulli Creek Substation in Southern Queensland to accommodate the grid connection of Genex Power's 775MW Bulli Creek solar PV power plant.
October 23, 2025
Queensland's rooftop solar systems have exceeded 5GW of output for the first time, marking a milestone in Australia's solar expansion.
October 22, 2025
US thin-film manufacturer First has revealed another transfer of its 45X manufacturing tax credits in a deal worth around US$775 million.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal