South Korea has approved the construction of eight coal-fired power plants in the country, as part of an energy plan that will spread investment among state and private power generators.
Samsung C&T, Tongyang Power, SK Engineering & Construction, and an offshoot of Dongbu Group will build the power plants, reports Bloomberg.
The companies are expected to construct the generating stations by 2027. Investment amounts were not disclosed, but the plants could generate a total of 8,000MW.
The latest approval marks the first time nod from the government in three decades to private operators to build coal-fired plants in South Korea.
It’s also part of a road map, which outlines energy investments for the next 15 years.
Under the plan to develop power generation capacity by 2027, state generators will add 2,740MW of coal-fired plants, according to the Ministry of Knowledge Economy.
The energy plan also calls for the country to generate 49% of its electricity output from nuclear reactors in 2024, compared with 33% in 2011.