BUSAN < invest Korea

South Korea’s LS Industrial System Co. will build a roof-mounted solar power farm linked to energy storage system (ESS) in Busan as part of a collaboration project with the Busan city government to expand the adoption of clean energy systems in the southern port city.

The Busan city government said on Tuesday that LS Industrial System will install a 910 kilowatt (KW) solar power plant with an ESS of a 2.7 megawatt hour (MWh) capacity on the rooftop of the electric power systems maker’s office buildings in Hwajeon Industrial Park, southwest of Busan.

LS Industrial System, which also is the lead manager of the city’s project to bolster use of smart grid network in the region, will complete the construction of the new ESS-linked solar farm by February next year.

A total of 3.71 billion won ($3.3 million) will be invested to build the ESS-linked solar power plant, which is expected to generate 1,140 MWh of electric power and allow the company to earn about 330 million won annually from the sale of excess electricity to state-run utility Korea Electric Power Corp., according to the company.

An ESS-linked solar power plant stores excess electricity in an ESS to transfer it on an as-needed basis. Its adoption is growing thanks to its relatively more stable power supply than the existing solar power plant whose electricity production and supply depends heavily on weather conditions.

Busan city anticipated LS Industrial System’s construction of the ESS-linked solar farm to encourage other manufacturers in the region to follow suit and the adoption of clean energy system in the city to proliferate. LS Industrial System plans to help the city promote the renewable energy program by arranging a tour to the ESS-linked solar power plants after completion.

At 2:51 p.m. on Wednesday, shares of LS Industrial System were down 0.91 percent at 54,600 won.



By Moon Ji-woong

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Source: Pulse by Maeil Business News Korea (Sep. 27, 2017)