South Korea will reportedly invest 37 trillion won ($28.5 billion) over the next 13 years in several new nuclear, coal, and natural gas power plants to improve fuel efficiency and cut emissions.

Reuters reported that the country plans to build 12 new nuclear plants, seven new coal plants, 11 natural gas plants, and a heavy fuel plant by 2022. During this time, it will shut down three existing coal plants, six natural gas plants, and 13 heavy fuel units, the ministry reportedly said.

South Korea also plans to make heavy investments in renewable energy sources part of its long-term plan. The government anticipates that energy sources including solar, wind, and water would account for 11% of power consumed by 2030, compared to the current 2.2%, Reuters said.

Source: Reuters