S Korea to build 14 new nuclear reactors by 2024
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Last Updated: Tuesday, December 07, 2010, 23:21
  
Seoul: South Korea said Tuesday it plans to build 14 new nuclear reactors by 2024 to help meet growing energy needs and cut dependence on fossil fuel.

South Korea, which currently has 20 operational nuclear reactors, will build 14 new facilities to make atomic power the biggest source of energy by 2024, state-run Korea Power Exchange said.

As a result, nuclear energy will provide 48.5 per cent of the nation's energy consumption by the target year from the current 32 per cent, KPE said in a long-term national energy development plan.

Coal is currently the biggest source of energy in South Korea that meets 42 per cent of the nation's energy needs.

Renewable energy sources like solar and wind power will also provide 8.9 per cent of the nation's energy needs by 2024 compared with the current 1.3 per cent, it said.

Asia's fourth-largest economy imports 97 per cent of its energy needs from overseas and has moved to cut dependence on fossil fuels and to diversify energy sources.

In October, Seoul unveiled a five-year plan to spend USD 36 billion developing renewable energy as its next economic growth engine, with a goal to become one of the world's five top players in the sector.

PTI


First Published: Tuesday, December 07, 2010, 23:21


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