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South Korea Renewables Report Q2 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 29 pages

Includes 3 FREE quarterly updates

Latest Updates And Structural Trends

- South Korea's 2015 non-hydro renewables capacity increased by an estimated 12.4% to 2,727MW, whichrepresented just 2.6% in the country's total power mix. We forecast the non-hydro renewbles capacity tocontinue expanding at an average of 10.4% per annum over the next decade, lifting the total capacityfigure to 7,300MW.

- We hold our view that the wind sector will overperform against the other industry segments, growing byan average of 18.9% per annum between 2016 and 2025. This will turn the wind sector into the largestcontributor in terms of non-hydro renewables generation and capacity.

- Overall, the non-hydro renewables contribution to South Korea's power mix will remain limited. Theindustry is expected to contribute 5.1% to the country's total power capacity and account for just 1.7% ofthe total generation in 2025. Our current forecast faces a further downside risk due to the availability ofcheaper power sources, most notably coal and nuclear, which continue hindering investment in to therenewable industry.- In early 2016, South Korean multinational electronics company LG Electronics signed a memorandumof understanding with Gumi to invest KRW527.2bn (USD435mn) expanding its solar cell manufacturingplant in the city. The project will increase the company's solar panel production capacity from 1GW to1.8GW by 2018 and to 3GW by 2020.

- According to reports in late November 2015, South Korean chemical company LG Chem signed anagreement with local power producer GS E&R to develop the world's largest wind energy storageproject in South Korea. Under the deal, LG Chem will install a 50MWh storage system at a wind farm inYeongyang, North Gyeongsang province.

Table Of Contents

South Korea Renewables Report Q2 2016
BMI Industry View 5
Table: Renewables Headline Forecasts (South Korea 2015-2021) 5
SWOT 6
Industry Forecast 7
South Korea Renewables Forecast Scenario 7
Latest Updates 7
Structural Trends 7
Table: South Korea Non-Hydro Renewables Generation Forecasts, 2014-2019 12
Table: Total Electricity Generation Data And Forecasts (South Korea 2020-2025) 13
Table: Electricity Generating Capacity Data And Forecasts (South Korea 2014-2019) 14
Table: Electricity Generating Capacity Data And Forecasts (South Korea 2020-2025) 15
South Korea Renewables Projects Database 16
Table: Top 10 Renewables Projects By Capacity (MW) 16
Industry Risk Reward Index 17
South Korea Renewables Risk/Reward Index 17
Rewards 17
Risks 17
Market Overview 18
Sustainable Energy Policy and Infrastructure 18
Targets 18
Table: Supply Targets For New And Renewable Energies 18
Subsidies 19
Infrastructure 20
Competitive Landscape 21
Korea District Heating Corporation (KDHC) 21
Korea Hydro and Nuclear Power (KHNP) 21
Glossary 23
Table: Glossary Of Terms 23
Methodology 24
Methodology And Sources 24
Industry Forecast Methodology 24
Sources 26
Risk/Reward Index Methodology 26
Table: Renewables Risk/Reward Index Indicators 28
Table: Weighting Indicators 29

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