[THE INVESTOR] POSCO ICT , a unit of Korea‘s leading steelmaker POSCO, said on May 25 it plans to sell solar power to state-run Korea Power Exchange.

The company said the project involves generating small-volume power of around 1 megawatt. POSCO ICT plans to install infrastructure at its headquarters and factories, and gradually expand the production capacity.

“We have a bright outlook on the growth, as small-volume generation projects can receive government incentives, and the procedures to secure approval for related land use are easier to obtain,” a company official said.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)