Yongin City Completes Construction of First Citizens' Participation and Public Cooperation Solar Power Plant

[Suwon Ilbo=Reporter Choi Ki-ho] Yongin Special Status City held a completion ceremony on the 25th for the 'First Citizens' Participation and Public Cooperation Solar Power Plant,' the first step in realizing 'RE100' created with citizens.

Mayor Lee Sang-il attended the solar power plant completion ceremony held in Geunssam-ri, Baekam-myeon, Cheoin-gu, and emphasized the necessity of carbon neutrality and renewable energy as well as creating eco-friendly cities together with citizens.

Approximately 50 people including Mayor Lee Sang-il, Citizens Participation Cooperative Chairman Lee Bo-young, and Baekam-myeon residents attended the completion ceremony.

Mayor Lee Sang-il stated, "The solar power plant completed today was built on unused city land, and electricity produced here will generate profits through methods such as selling to 'RE100' companies preparing for climate crisis, with profits distributed as dividends to cooperative members," and added, "In the future, projects to install the second, third, and fourth solar power plants will be carried out with Gyeonggi Province and others at 'Maseong IC,' 'Yongin Rowing Venue,' and 'Yongin Indoor Sports Complex,' and we ask for your continued attention."

The 'First Citizens' Participation and Public Cooperation Solar Power Plant' was selected in Gyeonggi Province's 'RE100 Leading Project' public recruitment and is evaluated as a citizen-centered energy transition model for discovering and fostering energy new businesses suited to local characteristics.

The solar power plant in Geunssam-ri, Baekam-myeon was established utilizing public idle space (5,788㎡) on a slope of Provincial Road 318, and is expected to generate 907㎾ of electricity per hour.

The total project cost is 1.802 billion won, with Yongin City bearing 399 million won, the Citizens Participation Cooperative bearing 912 million won, and Gyeonggi Province providing 491 million won in support.

The 'First Citizens' Participation and Public Cooperation Solar Power Plant,' which held its completion ceremony, will also proceed with recruitment of citizen investors. Investment participation is structured so that citizens directly participate in energy production and share profits, and is evaluated as contributing to carbon neutrality realization and energy transition in the region.

Investor recruitment began on the 25th and will continue until the target amount is reached.

Eligibility for participation is individuals or corporations who have resided in Yongin City for at least six months. Individuals are prioritized for recruitment, and corporations can participate depending on fund-raising circumstances.

The participation method is completed by submitting an online registration application followed by depositing the investment amount. Investment amounts can range from 100,000 won per account minimum to a maximum of 50 million won per account (up to 500 accounts).

The target recruitment amount is 1.81 billion won, which will be used as joint funds for constructing additional citizens' and public cooperation solar power plants. Citizens who participate in investment receive annual dividend payments (approximately 6%) from profits generated by selling electricity produced at the solar power plant.