South Korea aims to set up the biggest floating solar farm in the country, on the western coast to expand power generation from eco-friendly energy sources.

State-run company Korea Hydro & Nuclear Power (KHNP) said has signed a memorandum of understanding with Hwaseong Solar Energy, a local renewable energy firm, to develop the floating 100 megawatt-capacity solar power plant in Hwaseong, 70 kilometers southwest of Seoul.

The project will install a collection of photovoltaic panels on a structure that floats on Hwaseong Lake, a manmade lake on the western coast.

According to the company, it has signed a long-term lease with the provincial government to use 861,000 square meters of the lake, or 8.3 percent of the site.