LG Energy Solution announced on the 10th that it 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 the country.
With this selection, LG Energy Solution will be responsible for the operation of all offshore wind farms in the country operated through the renewable energy bidding system. Previously, LG Energy Solution was recognized for its technological leadership through stable bidding management and operation as the power broker for Tamla Offshore Wind, the first offshore wind farm in Jeju.
Hallim Offshore Wind Farm is the largest in the country, with a capacity of 100 megawatts (MW), operating 18 wind turbines of 5.56 MW on a sea area of 5.5 square kilometers, which is twice the size of Yeouido in Seoul (2.9 square kilometers). It can produce an average of 234,913 megawatt-hours of renewable clean energy annually.
LG Energy Solution will predict the power generation of the Hallim Offshore Wind Farm and provide renewable energy bidding services a day in advance and in real-time. Afterwards, through participation in the bidding system of the Korea Electric Power Corporation, electricity transactions will be conducted to ultimately deliver renewable energy to consumers nationwide. The government has been introducing the bidding system for renewable energy from last year, starting with Jeju, and operating it like thermal power plants.
LG Energy Solution is currently the only company operating a virtual power plant (VPP) by establishing a standalone energy storage system (ESS). Based on this experience, it is providing comprehensive solutions in the renewable energy bidding market, demonstrating excellent renewable energy operation capabilities with a low power generation prediction error rate.
Hwang Won-pil, who is in charge of the Energy-as-a-Service (EaaS) business at LG Energy Solution, said, "LG Energy Solution is leading the market as the overwhelming number one in the renewable energy bidding market, and we will establish a stable business model that contributes to energy circulation beyond battery manufacturing to provide differentiated customer value."