Hanwha Q Cells, South Korea’s leading solar cell and module maker, will build a 41-megawatt floating solar power plant in Hapcheon, South Gyeongsang Province, the company said Thursday.

According to Hanwha Q Cells, the company received approval from the Korea Water Resources Corporation last week and plans to begin construction of the solar farm within this year.

When finished, it will be the largest floating solar power plant built at a dam. It will generate enough electricity for around 60,000 people to use in a year, the company said.

Hanwha Q Cells said floating solar power plants benefit society by using the water’s surface when there is not enough land. A solar power plant built on water can generate electricity more efficiently too, since water reflects light and cools down the modules, the company explained.

Hanwha Q Cells said it would use its self-developed Q.Peak Duo Poseidon modules, which are specialized for floating solar farms and offer peak power of 420 watts and energy efficiency of 20.3 percent. The modules are produced with eco-friendly materials that resist high temperatures and humidity, the company added.

“Floating solar power generation facilities using the idle water surface is the best solution to utilize limited national territory,” said CEO Kim Hee-cheul.

The global floating solar panel market is expected to grow at a fast pace for this reason, according to Hanhwa Q Cells. If nations around the globe decided to use 1 percent of their total available water surface area to install floating solar photovoltaic panels, they could generate 404 gigawatts of power, the company added, quoting a World Bank report.

By Shim Woo-hyun (ws@heraldcorp.com)