KOSPO consortium launches ₩32bn energy self-sufficiency project in Busan
Korea Southern Power (KOSPO), leading an eight-organization consortium, signed an agreement on October 30, 2026, to invest ₩32 billion in Busan's Shinpyeong-Jangnim Industrial Complex. This initiative will establish 12.253 MW of solar PV and 5 MWh of ESS by 2029 to enhance energy self-sufficiency.
Our take
Does Korea's industrial complex energy self-sufficiency project leave room for private capital?
The Shinpyeong-Jangnim project in Busan leaves limited room for private capital, because public money covers KRW 23bn of the KRW 32bn budget and the consortium puts in KRW 9bn.
Operating profits are to be reinvested under Busan's sunshine income model, so the project reads as a local public programme rather than a return-led asset. How rooftop access and profits are shared with tenants is not published.
What the source says
- The total investment of ₩32 billion includes ₩20 billion from government funds, ₩3 billion from local government, and ₩9 billion from the consortium.
- The KOSPO consortium will install solar PV on building rooftops of tenant companies and public unused land within the industrial complex.
- Jeong Guk-geon, Head of KOSPO's Climate and Environment Department, stated that industrial complex energy competitiveness is crucial for regional sustainable growth and KOSPO will actively lead in expanding renewable energy and improving energy efficiency in Busan.
- The project aims to enhance energy efficiency for tenant companies and integrate with the existing Myeongji-Noksan Industrial Complex's energy management infrastructure.
- Operating profits from the project will be reinvested into expanding renewable energy and improving industrial complex benefits, applying a 'sunlight income' model developed with Busan City.
- Energy diagnostics and carbon neutrality consulting will be provided to tenant companies, supporting the replacement of old equipment with high-efficiency alternatives.
For investors — Solar and wind developers should read this as a grant-led template for tenant rooftops, and should find the rooftop and profit-sharing terms before pricing similar sites.
Watch: Announcement of similar smart green industrial complex projects or expansion of the 'sunlight income' model to other regions.
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