S Korea to build 14 new nuclear reactors by 2024

Last Updated: Tuesday, December 7, 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 7, 2010 - 23:21

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