Source: https://www.metering.com/news/kepco-softbank-asian-supergrid/
14 October 2016
KEPCO and Softbank unveil plans to build Asian ‘supergrid’
Korea Electric Power Corporation (KEPCO) and Softbank will embark on a project that aims to build a ‘supergrid’ linking the power grid among four neighbouring countries.
KEPCO and Softbank are looking to connect the power grids of South Korea, China, Japan and Mongolia, allowing them to share energy as part of a push toward developing what’s being called the “Smart Energy Belt of One Asia” proposed by SoftBank CEO Masayoshi Son.
During the 17th World Knowledge Forum (WKF) held in Seoul on Thursday, Cho Hwan-eik, president and chief executive of South Korea’s state utility firm KEPCO, said: “We have initiated a preliminary feasibility study on a demonstration project linking a 2GW electricity grid between Korea and China, as well as between Korea and Japan.” [South Korea’s KEPCO ready to export smart grid technologies]
According to local media, Cho released detailed plans of creating the super grid that he recently discussed with CEO Masayoshi Son of Japan-based IT giant SoftBank for the first time. The project would provide a cornerstone for the more ambitious plan of the Smart Energy Belt of One Asia that was first advocated by SoftBank CEO Masayoshi Son.
It is reported that approximately 7 trillion won ($6.2 billion) to 8 trillion won would be injected in the first demonstration project that would construct a power grid linking Mongolia, China, Korea and Japan.
The demonstration project includes the construction of a 2-gigawatt complex that can produce solar and wind power in Mongolia and a seabed power grid connecting Shandong Province of China, Korea and western part of Japan that will transmit renewable energy to be produced in Mongolia.
KEPCO, China’s State Grid Corp China (SGCC), Japan’s SoftBank and Mongolia’s energy development company Newcom will also be involved in the project.
“The super grid project is expected to promote cooperation in Northeast Asia,” added Son.
“Gobi Desert in Mongolia is a rich repository of new renewable energy and we will push forward with the super grid of One Asia,” said Miwa Shigeki, a strategy and planning executive of SoftBank who attended the session of One Asia Supergrid at the WKF.
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During the 17th World Knowledge Forum (WKF) held in Seoul on Thursday, Cho Hwan-eik, president and chief executive of South Korea’s state utility firm KEPCO, said: “We have initiated a preliminary feasibility study on a demonstration project linking a 2GW electricity grid between Korea and China, as well as between Korea and Japan.” [South Korea’s KEPCO ready to export smart grid technologies]
According to local media, Cho released detailed plans of creating the super grid that he recently discussed with CEO Masayoshi Son of Japan-based IT giant SoftBank for the first time. The project would provide a cornerstone for the more ambitious plan of the Smart Energy Belt of One Asia that was first advocated by SoftBank CEO Masayoshi Son.
Accelerated renewable energy integration
The One Asia smart grid push aims to transmit new renewable energy such as solar or wind power energy from countries that are best able to produce it to other countries that lack such energy by building a power grid among the nations. [Asian Utility Week 2016 attracts record number of international utilities]It is reported that approximately 7 trillion won ($6.2 billion) to 8 trillion won would be injected in the first demonstration project that would construct a power grid linking Mongolia, China, Korea and Japan.
The demonstration project includes the construction of a 2-gigawatt complex that can produce solar and wind power in Mongolia and a seabed power grid connecting Shandong Province of China, Korea and western part of Japan that will transmit renewable energy to be produced in Mongolia.
KEPCO, China’s State Grid Corp China (SGCC), Japan’s SoftBank and Mongolia’s energy development company Newcom will also be involved in the project.
“The super grid project is expected to promote cooperation in Northeast Asia,” added Son.
“Gobi Desert in Mongolia is a rich repository of new renewable energy and we will push forward with the super grid of One Asia,” said Miwa Shigeki, a strategy and planning executive of SoftBank who attended the session of One Asia Supergrid at the WKF.
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Source:
https://www.metering.com/s-koreas-kepco-ready-to-export-smart-grid-technologies/
28 OCTOBER 2014
South Korea’s KEPCO ready to export smart grid technologies
South Korea's state-run utility Korea Electric Power Corp (KEPCO) has unveiled a strategy to turn its smart grid technologies into a global export.
A report by the Korea Times stated the company unveiled a three-stage plan during an electrical power trade conference on Monday in a bid to "develop smart grids into a business model and an export item", according to Hwang Woo-hyun, vice president of KEPCO.
KEPCO will spend US$155 million between 2015 and 2017 on developing technologies that will reduce spending on power, as well as boosting energy saving and efficiency, Mr Hwang said.
Smart country, smart region
The electric utility envisages applying smart grid technologies across the country by 2030 for power generation, distribution and consumption, according to a KEPCO spokeswoman and at the same time will try to export smart technologies to developing nations in Southeast Asia.
Smart grid deal
In September, KEPCO signed an agreement to sell its smart grid technologies to the Canadian power company PowerStream in its first export of this kind.
Under the deal, the two companies will cooperate to develop a large-scale application of the technology for North America.
Smart grid vision
In 2011, KEPCO earmarked investment of US$7.18 billion in its smart grid business by 2030.
Of the total investment will be spent in the next five years, to upgrade power transmission and distribution systems and switch meters, the company said in a statement.
South Korea said in early 2010 that it aimed for spending of 27.5 trillion won over the next two decades on smart grids to make electricity distribution more efficient, reduce greenhouse gas emissions and save US$26 billion in energy imports.
Smart energy vision
Earlier this year, the utility announced it would soon be buying electricity stored in car batteries through a vehicle-to-grid pilot scheme planned for the end of this year.
The South Korean government is backing the plan to allow plug-in electric vehicle owners to sell power to KEPCO.
Electricity will be delivered to the grid via KEPCO’s power exchange market, the Ministry of Trade, Industry and Energy said this week.
The government will revise related laws to smooth the vehicle-to-grid program by the end of this year, while the state-run electricity distributor will design a new price-charging system.
