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BayWa enters South Korea with 3 early-stage solar projects

BayWa r.e. renewable energy GmbH is entering the South Korean renewable market with three early-stage solar projects.

The company has opened an office in Seoul and also intends to expand into wind farms and solar product distribution, in an effort to help South Korea meet its target of generating about 30% to 35% of energy through renewable sources by 2040, according to a Sept. 24 release.

"[G]reen energy currently makes up less than eight percent of the country's overall generation. A huge effort will be required to meet the 2040 renewables target and as global experts in renewable energy, we are looking forward to playing our part in supporting South Korea reach this target," said Daniel Gäfke, director of projects for the Asia-Pacific region at BayWa r.e.

BayWa r.e. is a subsidiary of German industrial group BayWa AG.