S. Korean energy firms to spend 3 tln won on renewable energy

SEOUL, July 9 (Yonhap) -- South Korea' nine state-run energy companies will
invest a combined 3 trillion won (US$2.3 billion) over the next three years to
increase the country's supply of renewable energy sources, officials said
Thursday.
The state-run Korea Electric Power Corp. (KEPCO) and eight other energy companies
signed a convention on the investment which will be completed by 2011, the
Ministry of Knowledge Economy said in a statement.
The other eight include KEPCO's subsidiaries, Korea Water Resources Corp. and
Korea District Heating Corp, according to the ministry.
Under the convention, they agreed to increase power-generating equipment for
renewable energy including solar power and expand research and development
efforts in the area.
The ministry expects that the investment will help those companies to expand
their facilities enough to produce renewable energy up to 1.7 percent of their
total power-generating capacity from the current 0.8 percent.
The envisioned investment is much higher than the 605.9 billion won spent for the
same purpose by the nine companies between 2006 and 2008, it added.
kokobj@yna.co.kr
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