DNV signs a memorandum of understanding with Korean producers of floating solar components

According to DNV GL, the capacity of the world’s grid will triple by 2050 as electrical network operators struggle to keep up with a spike in renewable energy and electric vehicles. The leading provider of quality control and risk management predicted that as more and more transportation, buildings, and manufacturing are powered by electricity by 2050, the demand for energy will have doubled. Transformers will be installed at double the current rate. The global expansion of DNV has been a goal.

In order to increase the number of floating solar PV (FPV) facilities in Korea and around the world as the energy transition quickens, DNV has inked an MOU with Korean FPV vendors. This MOU calls for DNV, a leader in independent energy and a provider of assurances, to work with Korean partners on potential business ventures in the international FPV market. Included in this are the manufacturers of floating PV and land PV structures DASCO, SolarPark, and POSCO, a steel manufacturer, as well as the companies LS Electric, SCOTRA, and POSCO, a provider of power and automation solutions, and POSCO, a manufacturer of floating PV and marina as well as offshore structures.

In order to create and design systems that meet the standards and conventions of the international FPV market, the parties will trade technical and confidential information. The parties will work together on shared marketing initiatives as the partners decide which markets and projects are of interest to both parties. Additionally, they will examine and test the viability of these FPV solutions in salty conditions.

In regions where developing ground-mounted solar systems may be hampered by severe terrain, a lack of available land, and competition for available land, floating solar has enormous promise. By 2030, the installed FPV capacity worldwide is expected to be between 10 and 30 GW, according to DNV estimates. The Ministry of Environment of South Korea recently announced a goal to deploy 2.1 GW of floating PV output by 2030, signaling the country’s aggressive participation in this industry.

The majority of South Korean businesses have placed a high value on innovation, and as a result, many of their domestic companies have made significant investments in product development and R&D, contributing to the success of Korean businesses.

“The signing of this MOU signals a new degree of cooperation among Korean FPV providers and the start of a partnership focused on innovation and driving the energy transition,” said Dr. Lim Dong Ho, DNV Market Area Manager for Korea. “Over the past few years, DNV has been actively involved in assisting domestic Korean producers of clean energy components to enter global markets. The MOU’s signature will create the framework for the global and South Korean expansion of FPV plants.

With eight of the top ten countries for FPV demand located in Asia, Brice Le Gallo, who is the┬áRegional Director and Vice President APAC, Energy Systems at DNV, stated that this MOU including Korean manufacturers is precise and couldn’t have been created at a better spot, concentrating on the main expanding markets. Floating solar is a crucial component in Korea’s ambition to attain its net zero aim by 2050.

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