Six floating solar projects in South Korea, totaling 1,324MW, have entered the process of securing development rights. But 1,324MW is neither under construction nor approved. The six projects reported by Maeil Business Newspaper on August 19 are either still under review at the initial proposal stage, or have selected an initial proposer and are awaiting a third-party open bidding process.
The existing Daeho Lake Phase 1 stood at 98MW. The new projects scale up to as much as 500MW. Beyond securing water surface area, whether mooring, maintenance, and grid connection can each be made to work at every site will determine whether the 1,324MW can actually be realized as installed capacity.
Six Water Bodies, 1,324MW: Currently Under Rights Review
According to Maeil Business Newspaper, Korea Midland Power is planning 375MW at Sapgyo Lake, 105MW at Yedang Lake, and 26MW at Cheongcheon Lake, for a combined 506MW. Korea Western Power is advancing 500MW at Ganwol Lake and 198MW at Namyang Lake, totaling 698MW. Korea East-West Power is pursuing 120MW for Daeho Lake Phase 2. Combined across the three companies, this comes to 1,324MW. Korea Western Power's official development page also lists the 500MW Ganwol Lake project among its development projects.
According to the same report, Sapgyo Lake, Yedang Lake, Namyang Lake, and Daeho Lake Phase 2 are under review at the initial proposal stage. Cheongcheon Lake and Ganwol Lake have already selected their initial proposers and are awaiting a competitive third-party open bidding process. Under the Korea Rural Community Corporation (KRC) procedure, developers submit proposals that include not only the site and capacity but also financing plans and measures for community engagement, from which KRC selects an initial proposer. Since the final developer is determined through the subsequent open bidding process, selection as an initial proposer does not amount to a construction permit.
1,324MW is a capacity figure close to the 1,400MW rated output of an APR1400 reactor. However, this is purely an arithmetic comparison. Solar and nuclear power differ in capacity factor and dispatch characteristics, so this does not mean their electricity output is equivalent.
From 98MW to 500MW: How Public Water Bodies Are Being Used
Korea East-West Power disclosed in its business report that it completed a 98MW floating solar installation at Daeho Lake in 2024. The current 120MW Phase 2 project, alongside the up-to-500MW Ganwol Lake project, signals a shift toward a stage where projects exceeding 100MW at a single water body are now becoming common.
The expansion from 98MW to 500MW represents roughly a 5.1-fold increase. This is not simply a matter of scaling up by lining up more floats. Mooring systems through to transmission equipment must be redesigned to account for dynamic loads from wind and fluctuations in water level, as well as water depth and the topography and geology of the lakebed at each site.
Policy is also pushing for scale. The Ministry of Climate, Energy and Environment's First Basic Plan for Renewable Energy sets a policy goal of introducing 100GW of renewable energy by 2030. The plan calls for concentrating 44.2GW of solar capacity across four policy-designated sites, including floating solar locations, and identifying 10 or more gigawatt-scale new solar projects totaling 12GW. According to Maeil Business Newspaper, KRC also plans to develop 3GW of floating solar sites across 28 districts by 2030.
Design Requirements for Lasting 25-Plus Years on Water
A practical handbook on floating solar compiled by the World Bank Group, ESMAP, and SERIS identifies electrical safety, anchoring and mooring, and operation and maintenance as key design challenges. Platforms are required to maintain functionality for 25 years or more, and must be designed with wind loads, float types, water depth, water level fluctuations, and lakebed topography and geology all taken into account.
As capacity scales toward the hundreds of megawatts, these design conditions extend across the entire installation. Anchoring and mooring are no longer simply components for keeping panels afloat—they become systems that must hold a large surface area in place against wind and water level changes. Electrical safety and maintenance also need to be designed with consideration for how personnel will access equipment on the water and how they will respond in the event of an anomaly.
That said, floating solar still has limited long-term operational data and environmental impact data. The effects of covering a water surface cannot be judged uniformly, and site-specific environmental assessments that account for the conditions of each water body are necessary.
What Remains After Bidding: Environmental Review and Grid Connection
Even once KRC selects the final developer, environmental impact assessments, various permits and approvals, and construction still lie ahead. Maeil Business Newspaper reported KRC's explanation that completion is expected to take roughly three to five years. Individual construction timelines, investment amounts, grid connection points and costs, power purchase terms, and environmental assessment outcomes remain undetermined or undisclosed.
Materials designed for use on water push up upfront costs. Furthermore, the same report noted that unless grid capacity to accommodate hundreds of megawatts of variable power generation is secured, approval for the power generation business itself could be delayed. While public water bodies can help avoid the land acquisition competition seen on land, developers must simultaneously clear water rights, community agreements, environmental assessments, and grid connection.
Beyond the third-party bidding process, developers must finalize water rights and community agreements while advancing environmental impact assessments for each project. Whether they can secure permits and approvals while concretizing receiving points and grid connection plans will determine the fate of these six projects totaling 1,324MW.