LG Group said Wednesday it plans to install roof-mounted solar power technology at facilities of its key affiliates to cut costs and expand its energy solution business.

The conglomerate will establish 19 solar facilities with capacity of 19MW by the end of this year, starting with LG Display Co.'s plant located in the northern city of Paju.

When the project is completed, LG Group will operate South Korea's largest roof-mounted solar power facilities, with a capacity of 27.4MW when combining four existing plants under LG Electronics Inc. and LG Chem Ltd.

Serveone, LG's maintenance, repair and operation unit, will undertake the project, which recently clinched a memorandum of understanding with state-run Korea Midland Power Co.

LG's new solar power systems will generate up to 22.8GW of power annually, which equals the amount that can be consumed by 7,600 households in one year. The company added the project will use some 70,000 units of solar modules with a combined size of 231,000 square meters.

The solar panels will result in about 10,000 fewer tons of carbon dioxide emissions annually in comparison to traditional thermal power systems, and boost efficiency by lowering the temperature of facilities, the group said. (Yonhap)