SevenKorean public institutions and businesses, including the Gyeonggi provincial government, Korea Rural Community Corp. and Korea Midland Power Corp., are joining together in a renewable energy development project.

They will invest a combined US$536.4 million over the next three years to build a 200 MW wind power plant and 20 MW solar power plant at a location along the west coast of Gyeonggi province. Korea Rural Community Corp., which owns the site, will lease the location.

The power complex will be the biggest of its type in the country, producing enough electricity for 300 000 to 400 000 people. It is expected to reduce carbon dioxide emissions by some 167 000 tons annually and create at least 5000 jobs.