KT Corp. and Siemens AG will jointly establish a future smart power plant based on information and communication technology (ICT). According to KT on May 16, the two companies have signed a memorandum of understanding (MOU) for the ICT-based smart power plant project.
Under the agreement, the two will develop domestic smart power plant business and pilot projects, establish wireless communication networks, such as long-term evolution (LTE) and Internet of Things (IoT), control smart sensors at power generating stations and develop and expand smart and specialized power plant services based on artificial intelligence (AI), augmented reality (AR), drone and mobile devices in a bid to jointly respond the current trend that makes power plants smarter.
Siemens focuses its core competencies on electrification, automation and digitalization areas ranging from generation, transmission and transformation of electric power to smart grid solutions and electric power application. In particular, the company’s power generation service business division is concentrating its energy on industrial plants and oil and gas production compressor solutions and platforms.
KT has set up the LTE network that provides a high level of security for numerouspublic organizations and enterprises. The company also has various ICT competencies and experiences that can apply to smart power plants, including the IoT, AI and big data as well as the 5G network that was first introduced at the Pyeongchang Winter Olympics. Integrating these with Siemens’ power generation business, KT is expected to maximize a synergy in business.