South Korea’s building and industrial materials company KCC Corp. said on Wednesday it recently began construction of a solar power system for the Public Procurement Service’s Busan office and its warehouse.

The project marks the company’s first foray into the independent power plant (IPP) market. KCC has tested the water by installing rooftop solar panels for its own plants across the country.

The solar power system in Busan is scheduled for completion in October with annual capacity of more than 1,000㎿h, which is enough to provide 278 households with electricity for a year.

"Our value proposition is in generating profit from a solar power system installed on a rooftop or vacant land for earnings enough for the tenant to pay their rents,” said a KCC official.

KCC hopes to expand its business area into building energy optimization and other related industries.

Last year, KCC signed an agreement with the Busan Economic Promotion Agency to promote the use of solar power across the port city as part of its business strategy.

KCC provides total solutions and services ranging from project development and project financing to engineering, operation and maintenance.

By Ahn Byung-joon and Minu Kim

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]