12.253 MW of solar power and 5 MWh of ESS to be installed
Total investment of 32 billion won through 2029
Korea Southern Power will invest 32 billion won to install solar power facilities and an energy storage system (ESS) at Busan's Sinpyeong-Jangnim Industrial Complex, laying the foundation for energy self-sufficiency.
Korea Southern Power, led by President Kim Jun-dong, announced on October 30 that it had signed an agreement with eight organizations at the Korea Industrial Complex Corporation's Busan regional headquarters in Gangseo District, Busan, to pursue a project to build and operate energy self-sufficiency infrastructure at the Sinpyeong-Jangnim Smart Green Industrial Complex. The eight organizations are Grand Sun Engineering Group, Hyupseong IMP, Segwang, Hanbit Innotech, NuriFlex, Busan Techno Park, Seonyeong Partners and the Korea Industrial Complex Corporation.
The project aims to install renewable energy facilities and an integrated energy management system (EMS) at the Sinpyeong-Jangnim Industrial Complex, which was established in 1990 and is more than 30 years old, and improve energy efficiency for tenant companies. It is supported by the Ministry of Trade, Industry and Resources, the Korea Industrial Complex Corporation and the Busan Metropolitan Government.
The project will run for four years, from 2026 through 2029. Total investment will be 32 billion won, comprising 20 billion won in central government contributions, 3 billion won in local government funding and 9 billion won in consortium investment.
The consortium plans to install 12.253 MW of solar power facilities on tenant companies' rooftops and unused public land. It will also build a 5 MWh ESS and smart grid infrastructure to increase renewable energy utilization and establish a foundation for a stable electricity supply.
Tenant companies will also receive energy assessments and carbon neutrality consulting. The consortium plans to analyze each company's energy consumption characteristics and help replace aging equipment with high-efficiency equipment.
In particular, it will establish a system for integrated management of energy production and consumption by connecting with the existing energy management infrastructure at the Myeongji-Noksan Industrial Complex.
Revenue from operating the project will be reinvested in expanding renewable energy deployment and improving benefits for the industrial complex. The consortium plans to share the benefits with the local community by applying the Sunshine Income model developed in cooperation with the Busan Metropolitan Government.
“An industrial complex's energy competitiveness is an important foundation for the sustainable growth of local industry,” said Jeong Gut-geon, head of Korea Southern Power's Climate and Environment Division. “Following the Noksan National Industrial Complex, we will also establish a foundation for expanding renewable energy and improving energy efficiency at the Sinpyeong-Jangnim Industrial Complex to enhance the competitiveness of industry in Busan, and take an active lead in implementing government energy policy and achieving national carbon neutrality.”
Original Korean article: Electric Times
English brief by Korea Wind Intelligence, koreawindintel.com
