Wind and Solar
The Korea Electric Power Corporation (KEPCO) is to export its own micro-grid technology (MG) to Canadian company PowerStream at US$15 million (17.17 billion won). The MG refers to a small-scale electricity grid to get power from wind and solar energy and independently control it. It is the first export of the homegrown technology.
The state-run power company announced on July 14 that it held a memorandum of agreement (MOA) signing ceremony with Canada's fourth-largest power supplier PowerStream at its headquarters in Naju, Jeollanam-do or South Jeolla Province, to establish the MG and update supervisory control and data acquisition systems (SCADA) in Northern Canada. An MOA is a document outlining the cooperative terms of two entities to work in partnership on certain listed projects, or as a general partnership after signing a memorandum of understanding (MOU).
With the MOA, KEPCO is expected to participate in updating the SCADA projects in two cities of northern Toronto of Canada. Priority consideration will be given to KEPCO to use its “Smart Distribution Management System” based on the MG in the projects.
The two companies will also make a joint investment in MG system construction and its demo projects in Northern Ontario, Canada for two years. KEPCO will invest US$3.5 million (4 billion won) from a total investment of US$6 million (6.87 billion won).
Also, both companies plan to work together in the local demonstration and business model development of promising cutting-edge technologies, including demand response, virtual plant system, and market operation, in order to seek future businesses. Demand response is a technology to help reduce peak power consumption by informing consumers of electricity price fluctuations in advance. A virtual plant is a system to collect, control, and supply dispersed electricity just like a single power plant.