RENEWABLE energy and waste infrastructure developer Equis Development has acquired a solar project in South Korea comprising a US$50 million 22MW solar generation project, and a 70MWh battery storage system.
The firm, which is wholly owned by Singapore-based investment firm Equis Funds Group , said that it expects to invest up to US$2 billion over the next three years in South Korea. Construction for the project will commence in April and operations are forecast to start in September 2020, Equis said on Monday.
The project, named Jara 1 Solar Project, is located in Sinan municipality, South Jeolla province, and will generate more than 200 jobs. Equis said it has partnered the municipality to establish a fund through which the local community will invest in the project. This will enable residents to benefit from the project's long-term stable income stream, the company added.
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