Korea energy market is entering into an historic new era by revolutionary renewable energy expansion policy.

In Nov. 30. 2016, Korean government introduced a new scheme to fix renewable energy prices for up to 20 years as a way to guarantee a stable stream of income for renewable energy operators to increase the installation base of renewable energy resources.

Under this plans, renewable energy generators will earn their income by selling REC (renewable energy certificates) and SMP (Service Marginal Price) together at one fixed price to Korea Electric Power Corp. or power generators during 20 years. Recently, it’s around KRW 175~185/kwh (15.6~16.5 cents)

The most important and strongest impact of this policy changes is that this long term fixed price system (LTFPS) enables long-term and relatively low interest rate project financing from banks up to 80% of total EPC cost.

And according to this LTFPS, price bidding and contract is awarded at power business approval stage, whereas most of other Asian countries give PPA at COD stage, the developer can safely commit the whole funding structure including project financing before EPC without off-take risk.

Also, for more power generation efficiency, when solar & wind power generator adapt ESS (Energy Storage System), provide 5 time as much of REC on discharged electricity from ESS during its generation idle time zone (for solar, 16:00~10:00).

Chloroplant guide you to successful renewable energy business in Korea & Gloabl

Professionals of Chloroplant have united and launched Chloroplant in 2017 to maximize the great potential of current Korean Renewable Energy with global investors. We believe the success factor of current Korean renewable energy opportunity depend on;

  1. Securing and acquiring possible project sites as much
  2. Immediate business & development approval
  3. Maintaining effective and deep relationships with project local communities and government office
  4. Working together with various investors who have different risk profile at each development stage
  5. Structuring attractive and low risk investment structure and bring project financing
  6. Setting up and managing the most efficient Korean platform company as yield co. and hold co. as well for the investor

Chloroplant, like Chloroplast in natural plant, will diligently and efficiently transform natural resources – solar PV and wind into clean and green energy.


Chloroplant is developing totally 16 solar PV and wind power projects in Korea and Global up to 460~960 MW

For Korean Solar PV power opportunities, we have to move as fast as possible to maximize the REC benefits by adapting ESS. So we are planning to get business approval for the most of projects not later than end of 2018. All projects are in the middle of land acquisition negotiation and expect MK_20 would be our first project by finalizing the negotiation with land owner.

But, depending on various issues including local governments stance on business approval, environmental impact assessment study, consent from the residence and etc, there would be a possibility that a project would be divided into several projects to detour the huddles and obstacles.

And we are aggressively challenging to global renewable projects and off-shore wind power project also. These projects are standing at too early stage to figure out the possibility of success, and contain lots of uncertain obstacles and risks during the development but Chloroplant would like take the opportunity and go through the risks by all-out and detail study together with local professionals.

As there will be no significant risks after the PPA stage, in terms of financial & business as well, land acquisition and getting immediate business and development approval – pre PPA stage – should the most critical stage which alter the success of the project.

In Korean solar PV power project development, as the EPC procedure is very simple and systemically modularized, when the project get power business approval and PPA contract, the project can go through EPC process without significant risks and get to the successful COD.

So, Chloroplant, as professional developer and project manager, is in-charge before PPA stage – from securing land to power business approval & PPA. After PPA, Chloroplant’s global top-tier infrastructure fund partner usually take over the whole project and Chloroplant will work as contracted local developer team.

By this clear role & responsibility with project partners in each step, Chloroplant can definitely improve the development efficiency by developing numbers of project at the same time.

That is why we setup Chloroplant as multi-purpose platform company in Korea.