The Sunshine Income Villages scheme plans to deploy solar installations across South Korea under a resident-led renewable energy profit-sharing model.
The South Korean government has selected the first 86 villages to take part in its Sunshine Income Villages initiative.
First unveiled earlier this year, the scheme aims to install solar power facilities on idle land, farmland and reservoirs, with local residents forming cooperatives to participate in the projects via energy and profit sharing.
The 86 villages were chosen from 129 that applied during the first open call for participants. A further 34 were recommended to reapply during the second call, which wrapped up at the end of July.
According to an update posted by the country’s Ministry of Climate, Energy and Environment (MCEE), nine of the approved villages were assessed as capable of rapid project implementation as they already meet all business requirements, such as established financial plans, secure site selection and the formation of a cooperative.
