Peak Energy Korea has announced the successful commercial operation date (COD) of the Youngjin SP rooftop solar power plant, marking the start of full-scale power generation and grid sales from the project. The plant’s completion strengthens Peak Energy’s growing presence in Korea’s distributed renewable energy market.

Located on the rooftop of an industrial facility, the Youngjin SP project has been safely commissioned and is now exporting clean electricity to the Korean grid. Commercial operation follows a smooth construction and testing period, delivered on schedule and in line with local regulatory requirements. COD confirms that all performance, safety and interconnection checks have been satisfied, enabling long-term, stable operation of the asset.

This achievement builds on Peak Energy Korea’s strategy to grow a portfolio of high-quality rooftop solar projects that support Korea’s energy transition and the decarbonisation goals of local businesses. By utilising existing roof space rather than greenfield land, the project minimises land-use impact while unlocking new revenue streams for the host facility.

The COD of Youngjin SP also underlines the strength of Peak Energy’s partnerships in Korea’s rooftop solar sector. In July 2024, Peak Energy Korea, Shinsung E&G and YSP signed an agreement to jointly develop up to 50 MW of rooftop solar projects in the country, focusing on industrial and commercial rooftops, according to EnergyNews. Youngjin SP is an early example of this strategy in action.

Project details: 1.19 MWp rooftop solar under roof lease model

The Youngjin SP plant is a rooftop solar project with an installed capacity of approximately 1.19 MWp, built under a roof lease business model. Under this structure, Peak Energy Korea leases the rooftop from the building owner, finances and constructs the solar system, and operates it over the long term, providing the host facility with stable lease income without upfront capital expenditure.

The project is expected to generate clean electricity equivalent to the annual consumption of several hundred Korean households, based on typical rooftop solar yields published by industry studies for the Korean market. By installing panels on existing buildings, the project helps avoid additional land development and supports more efficient use of industrial space.

Engineering, procurement and construction were carried out in line with Korean and international standards for rooftop PV systems, with a focus on structural integrity, worker safety and long-term reliability. Modules and inverters were selected to perform reliably in Korea’s seasonal climate, while monitoring systems enable real-time tracking of plant performance and early detection of any issues.

This project also benefits from the technical and development expertise of Peak Energy Korea’s local partners in rooftop solar. Earlier agreements with leading Korean solar companies such as Shinsung E&G and YSP aim to combine global investment experience with domestic engineering capabilities to accelerate rooftop deployment nationwide, as highlighted by coverage in Maeil Business Newspaper.

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Thank you to Youngjin SP for intrusting us with this project https://youngjinsp.co.kr/

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