The city of Naju is moving forward with its "Naju-style sunshine pension model," a program designed to share solar power revenue with local residents.
The initiative aims to install solar power facilities on idle public land owned by the city — without disturbing farmland or forests — and distribute the resulting revenue to residents, the city said Friday. Officials describe it as the country's first public-interest renewable energy project of its kind.
Solar panels totaling 1.6 megawatts in capacity will be installed across five idle city-owned sites, including parking lots and a sewage treatment plant. The electricity generated will be sold, and the proceeds shared with residents.
The total project cost is about 3 billion won ($2.04 million), to be raised through a community fund with participation from Korea Electric Power Data Network, or KDN, and local residents.
KDN will oversee operations and handle maintenance of the facilities.
The city aims to complete construction by January next year. Once the facilities are operational, Naju plans to run the program so residents can receive a tangible energy basic income from the power revenue.
Naju signed an MOU with KDN last October on "realizing a sustainable energy transition and energy basic income," and recently completed all government approval procedures required to advance the project.
kkm9971@heraldcorp.com
