Woori Technology Acquires Wind Power Control Business to Lead Offshore Wind Control and Instrumentation Market

[Asia Economy Reporter Hyunseok Yoo] Woori Technology announced on the 15th that it has signed an acquisition agreement with SM Instrument (SMI) for the wind power Condition Monitoring System (CMS) and Supervisory Control And Data Acquisition (SCADA) business. The acquisition amount is 6 billion KRW.

Through this contract, Woori Technology will acquire from SMI all patents, certifications, copyrights, and technology implementation rights related to wind power CMS and SCADA, all technical data, as well as business know-how and goodwill. The two companies will transfer the business through personnel exchanges and joint development over a certain period.

CMS is a device that records and analyzes operational data and measurement signals of wind turbines to diagnose abnormalities in advance. SCADA is a core technology that collects, analyzes, and controls the operational status and surrounding information of each turbine in real-time at the entire wind farm level.

The CMS and SCADA systems were developed and commercialized successfully by SMI and are currently applied and operated in 17 units at the Yeongheung Wind Power Complex, and are installed and under trial operation in 20 units at the Seonamhae Offshore Wind Power Demonstration Complex. The CMS system was jointly developed by SMI with the Korea Electric Power Research Institute and the Korea Institute of Machinery and Materials as a "Wind Turbine Condition Monitoring and Diagnostic System" and received international certification from the German certification body DNV-GL.

A Woori Technology official said, "This acquisition contract is significant in that we can immediately utilize the technology and know-how of the domestic number one company in the wind power control field for our offshore wind power business," adding, "As the domestic and international offshore wind power industry rapidly grows, we expect Woori Technology to play a major role in preempting the market in the increasingly expanding control and monitoring field."

SMI, established in 2006, is a specialized company in noise and vibration measurement and control solutions developing acoustic cameras, AI-based noise and vibration measurement solutions, ultrasonic cameras, and wind power condition monitoring and remote control systems.