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| LG CNS Vice President Kim Tae-geuk, left, poses with Jeju Energy Corporation CEO Lee Sung-goo, after signing a contract for a joint energy storage system (ESS) project, at the latter's headquarters on the nation's southern island of Jeju, Wednesday. The partnership will allow the IT service affiliate of LG Group to integrate its ESS with major wind power plants there. / Courtesy of LG CNS |
By Lee Min-hyung
LG CNS has won a license to establish its energy storage system (ESS) for wind power output stabilization on the nation's southern island of Jeju.
Under the contract with Jeju Energy Corporation, LG CNS will be in charge of the 27-megawatt-per-hour (MWh) ESS project, according to the company. The system integration affiliate of LG Group plans to finish the project this year, taking on its maintenance for the next 15 years. But the company did not unveil the exact value of the deal.
LG CNS will team up with the group's other affiliates ― including LG Chem and LG Electronics. LG Chem, the world's largest battery manufacturer by volume, will offer its mid- to large-sized batteries, while LG Electronics will supply its power conditioning system.
"The recent contract came under partnerships with some small and medium-sized enterprises (SME) there, which we believe will contribute to vitalizing the local ESS industry," LG CNS Vice President Kim Tae-geuk said in a statement.
LG CNS attributed the latest achievement to its global profile, as the firm was ranked fourth in an ESS leaderboard score released by U.S.-based market researcher Navigant Research, last year.
Jeju Island, for its part, is also making massive investments to transform into a "carbon-free area" by 2030, as part of Jeju Mayor Won Hee-ryong's mainstream policy. Last month, Prime Minister Hwang Kyo-ahn also pledged to make the resort island a green industry hub.
Won said: "We are promoting the spread of the ESS in our bid to realize our ‘Carbon-Free Island 2030 (CFI 2030) initiative under which Jeju hopes to use 100 percent renewable energy sources to replace fossil fuels."
The latest deal is a public-private partnership (PPP)-based project, with LG CNS hoping to expand its global profile through the collaboration with the island.
The Jeju government can also benefit from the green platform which will help the company efficiently manage energy generated by its wind farms. The provincial body expects the ESS to help stabilize electricity distribution at peak hours across the island.
This is not the first time LG CNS won a PPP project. In 2015, the Ministry of Trade, Industry and Energy named the company a major business operator for a government eco-friendly energy island drive for Ulleung Island in the East Sea.
Under the contract, the company provided its ESS and microgrid technologies to the island. The microgrid is often cited as a next-generation technology, combining renewable energy and ESS. Growing numbers of global energy systems providers ― including ABB of Switzerland ― are turning their focus to the technology for a more sustainable electricity supply.
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