Korea East-West Power is creating an energy innovation business environment for small and medium-sized enterprises (SMEs) to respond to carbon neutrality by 2035. Energy efficiency projects will be promoted focusing on industrial complexes, local communities, and universities with high energy consumption.
According to the power industry on the 6th, East-West Power is implementing the 'ESS MSP Project,' which reduces electricity bills by utilizing energy storage systems (ESS) for companies with high energy consumption. The company analyzes the power usage patterns of participating companies to derive optimal charge-discharge algorithms and provides customized solutions by analyzing operational data. During the project operation period, a comprehensive energy control center established at East-West Power’s headquarters will serve as a base to support full-cycle operation management services.
East-West Power is also promoting the 'Campus Energy Efficiency Project' targeting universities, where systematic energy management is difficult. The campus energy efficiency project is a business where East-West Power directly provides integrated solutions for energy efficiency improvement, from energy diagnosis to design, construction, and operation, reducing universities’ energy consumption and carbon emissions. In 2023, East-West Power established campuses equipped with energy efficiency improvement systems at Dong Seoul University, Hoseo University (Cheonan), and Hoseo University (Asan), providing and operating solutions at a total of six campuses following previous projects. Universities analyze usage patterns accumulated on smart devices through cloud platforms and machine learning technology, achieving an efficiency increase of 7-20% or more in electricity consumption, saving approximately 9.1 gigawatt-hours (GWh) of energy annually.
The company is promoting a community energy efficiency project that reduces energy costs in regions with high electricity consumption and shares benefits with local governments. Following the first project launched in Seocho-gu, Seoul in 2020, in 2022, East-West Power plans to install renewable energy facilities such as fuel cells and solar power, as well as energy storage systems, in nine public facilities including Ulsan National Institute of Science and Technology, the Urban Management Corporation, Family Culture Center, and Women’s Workforce Development Center in Ulsan. This aims to reduce fine dust and greenhouse gases and create a pleasant urban space.
Efforts are also being made to improve energy efficiency in SMEs. Utilizing the network of energy-related companies and institutions in local communities, a community has been established to advance toward an energy efficiency leading city. In February, East-West Power signed a 'Regional-led Value Chain Construction Joint Agreement' with the Korea Energy Agency, Korea Energy Economics Institute, Chambers of Commerce, and Economic Promotion Agency. Using the infrastructure possessed by each institution, East-West Power plans to systematically manage SMEs in the Ulsan region from energy diagnosis to energy efficiency projects, including East-West Power’s energy-saving solutions.
Dongseo Power signed an energy efficiency innovation support agreement with root companies at its headquarters last month.
In particular, East-West Power is actively working to implement a sustainable optimal energy efficiency business model through energy efficiency diagnosis, consulting, education, and professional workforce development targeting domestic root companies with high power consumption. Root companies operate manufacturing-based businesses using 14 types of manufacturing process technologies such as casting and welding. Like the roots of a tree, these companies handle essential materials that are not visible externally but are crucial for making final products. In March, East-West Power signed a 'Root Company Energy Efficiency Innovation Support Agreement' with the Productivity Headquarters and Production Technology Research Institute to help root companies reduce energy costs through efficiency improvements. Going forward, the company plans to expand various forms of energy efficiency support projects by integrating the expertise of each institution.
East-West Power is accelerating the creation of an energy innovation business environment for SMEs to respond to carbon neutrality by 2035. In February last year, the company held an 'Energy Transition Cooperation Declaration Ceremony' sharing East-West Power’s 2050 carbon neutrality roadmap with partner SMEs, and in June, it hosted an 'Energy Transition Win-Win Forum' with SMEs. East-West Power focuses on energy efficiency for SMEs through cooperation with local governments, public institutions, and related organizations, striving to achieve its vision by △ establishing support systems for energy transition participation △ improving the business environment centered on low carbon and energy efficiency △ expanding the scale of new energy businesses through win-win cooperation with SMEs.
Support for small business owners is also being strengthened. East-West Power individually visited 10 stores operated by small business owners in Ulsan’s Taehwa Market, providing consulting and promotional videos tailored to changing consumer trends. Collaborating with Chungnam Industry-Academic Research Institute, the company operated a middle-aged entrepreneurship support program in Dangjin City. Prospective small business owners participating in the program successfully prepared for entrepreneurship through six sessions of startup education and 130 mentoring sessions, resulting in actual business startups.
Kim Young-moon, CEO of East-West Power, said, "Efficient energy use is not a choice but a necessity to move toward a low-consumption, high-efficiency industrial structure." He added, "We will do our best to grow together with SMEs, the driving force and foundation of industrial competitiveness in Korea’s key industries, and help Korea establish itself as a nation of energy efficiency innovation."
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