S. Korean gov't to close 10 aged coal power plants by 2025

The South Korean government will shut down 10 coal-fired power plants that are more than 30 years old by 2025 as part of its commitment to lessen greenhouse gas emissions, the Ministry of Trade, Industry and Energy said on Wednesday.

The government will close down two coal-fired power plants in Seocheon and another two Boryeong plants in southern Chungcheong Province, two Samcheonpo plants in Goseong, South Gyeongsang, two Honam plants in Yeosu, South Jeolla, and two Yeongdong plants in Gangwon over the next decade.

The energy minister Joo Hyung-hwan said that time has come to phase out from fossil-fuel power stations to shift to cleaner energy system.

The government will retrofit and renovate eight coal-fired power plants that are more than 20 years old to increase their efficiency by replacing main parts such as turbines. The ministry estimates it would cost 100 billion won ($85 million) to 250 billion won per plant.

The government will impose tougher emission standards on fossil-fueled power plants under construction. The 11 plants that are now 90 percent completed should cut emissions by as much as 40 percent, two to three times stricter than the current standard, and nine plants that are 10 percent completed would be applied with the top emission standard.

In principle, the government will stop licensing new coal-fueled power stations. Any shortage of power instead would be supplied by low-carbon and clean energy.

“The government will invest as much as 10 trillion won by 2030 to reduce carbon emissions,” said Joo. “These measures would result in reducing fine dust particles by 24 percent, sulfur oxides by 16 percent and nitrogen oxides by 57 percent by 2030 from the levels of last year. The share of coal power generation would also be cut from 28 percent last year to 26.2 percent by 2029,” he added.

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