The authorities in the South Korean city of Daegu have signed an agreement with a consortium led by Hanwha Asset Management, the financial services unit of Hanwha Group, to build a 1.5 GW solar project on rooftops and idle plots of land at the Sangyeok industrial complex.

Hanwha Asset Management plans to invest KRW 3 trillion in the solar project, which will be the country's largest PV installation upon completion. Currently, the largest solar project in South Korea is a 200 MW solar plant now under construction at a former salt farm in Sinan country, South Jeolla province.

Group unit Hanwha Systems will build the plant in partnership with LS Electric and Hyundai Electric and Energy Systems.

“Daegu city plans to actively provide administrative support necessary for project development,” the municipal government said in a statement. “It will also support the developers in securing grid connection with Korea Electric Power Corp., following the installation of the solar plant.”

Daegu Mayor Hong Joon-pyo said the project will help to make the city a leading hub for renewable energy and carbon neutrality.

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