Korea to invest $103 billion to develop alternative energy
The plan is part of Korean government's long-term energy strategy in which the country will place alternative energy as its main priority. Korea plans to reduce fossil fuel usage from 83% to 61%, and increase the use of alternative energy from 2.4% to 11%. The plan includes solar power, wind power, bio power and geothermal power.
Private funds will account for about $70.5 billion of the total investment. Korea's Ministry of Knowledge Economy did not disclose further details. The government also plans to raise its energy self-reliance rate from 4.2% to 40%. According to statistics from September, because of the international oil-price hike, one-third of Korea's import volume is spent on energy products.
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Hydro One and Alectra announce major investments to strengthen electricity infrastructure and improve local reliability in the Hamilton area
HAMILTON - Hydro One Networks Inc. (Hydro One), Ontario's largest electricity transmission and distribution company, and Alectra Utilities have announced they expect to complete approximately $250 million of work in the Hamilton area by 2022 to upgrade local electricity infrastructure and improve service reliability.
As part of these plans to strengthen the electricity grid in the Hamilton region, investments are expected to include:
installing quieter, more efficient transformers in four stations across Hamilton to assist in reducing the number of outages;
replacing protection and switching devices across the city to shorten outage restoration times;
refurbishing a power line originally installed in 1915…
