SEOUL – LG Energy Solution has been selected as the operator of the renewable energy bidding service for the Jeju Hallim Offshore Wind Farm, the largest offshore wind farm in Korea. This selection gives LG Energy Solution control over the operation of all offshore wind farms in Korea, further solidifying its leadership in the renewable energy bidding market.
The Jeju Hallim Offshore Wind Farm is a 100MW-class offshore wind farm, the largest in Korea. It consists of 18 wind turbines with a capacity of 5.56MW each, spread across an area of 5.5㎢, which is twice the size of Yeouido Island in Seoul. The wind farm is capable of producing approximately 234,913 MWh of clean renewable energy annually.
LG Energy Solution will be responsible for predicting the power generation of the wind farm and providing day-ahead and real-time renewable energy bidding services. The company will also conduct power transactions through the Korea Power Exchange's bidding system, ensuring that the renewable energy produced is ultimately supplied to consumers nationwide.
The government has been implementing a system to make renewable energy a 급전 resource through bidding, similar to thermal power plants, starting with Jeju Island last year.
LG Energy Solution is the only company currently operating a virtual power plant (VPP) based on standalone ESS. With this experience, the company is providing comprehensive solutions to the renewable energy bidding market, including reducing the error rate in power generation forecasting.
LG Energy Solution was selected as the final operator for the Jeju Hallim Offshore Wind Farm due to its high scores in various evaluations, including performance, forecasting accuracy, service quality, and business operation capabilities.
Notably, LG Energy Solution is currently operating the renewable energy bidding system for all offshore wind farms in Jeju Island. Offshore wind power is more difficult to operate than onshore wind power or solar power due to its high real-time variability and forecasting challenges.
An official from LG Energy Solution emphasized that the company's ability to stably operate the demanding offshore wind power business demonstrates its expertise in operating the renewable energy bidding system.
Hwang Won-pil, head of LG Energy Solution's EaaS (Energy-as-a-Service) business, said, "LG Energy Solution is the overwhelming leader in the renewable energy bidding market. We will go beyond battery manufacturing to build an energy circulation ecosystem and provide differentiated customer value."
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