LG Uplus Builds Infrastructure for Monitoring Renewable Energy Generation

Korea Power Exchange and Incord Technologies Sign Business Agreement to Expand Electric Metering and Infrastructure

[Asia Economy Reporter Eunmo Koo] LG Uplus announced on the 24th that it has signed a Memorandum of Understanding (MOU) with Korea Power Exchange and Incord Technologies to establish infrastructure for monitoring renewable energy generation.

This agreement was made to support the Korean-style 'Green New Deal' project promoted by the government. The plan is to distribute and expand domestically produced meters and infrastructure to renewable energy power producers generating electricity using solar, wind, and other sources.

For renewable energy power producers to sell energy, a 'meter' that measures generation and 'infrastructure' that collects and transmits generation data are essential. However, most meters are foreign-made products, and the providers of generation data infrastructure are limited, causing small and medium-sized power producers to bear significant cost burdens.

To solve these issues, the three companies, including LG Uplus, will develop a remote transmission unit (RTU) capable of measuring generation with domestic technology and jointly build infrastructure that can collect and transmit generation data in real time via LTE communication networks. Through this, the meter price is expected to be reduced by half, and the RTU price by a quarter compared to existing prices.

LG Uplus will be responsible for creating the communication environment between communication modems and the Power Exchange. Incord Technologies will develop communication modems necessary for power producers' entry into the new power market, and the Power Exchange will handle various tasks and administration required for the distribution and expansion of domestically produced meters.

The three companies expect this agreement to expand market entry for small and medium-sized renewable energy power producers. With the anticipated entry of small-scale renewable generators with a facility capacity of less than 500 kilowatts (kW) into the power market, they plan to lead the early spread of monitoring infrastructure developed with domestic technology. In the future, the three companies also plan to jointly respond to create conditions for the expansion of domestically produced meters.

Jung Sook-kyung, head of LG Uplus's wireless business division, said, "Through this MOU, we have contributed to revitalizing the renewable energy business using Internet of Things (IoT) technology," adding, "We will strive to increase added value through the development of various joint projects in the energy sector and enhance public convenience by promoting eco-friendly energy."