Why LG Energy Solution's 'Able' Gains Attention in the Era of Renewable Energy Brokerage

Qualification Acquired for Participation in Renewable Energy Generation Forecasting System
Nation's First Jeju 'Solar-Wind Hybrid Resource' Registered
System Briefing for Solar Power Project Owners Starting October

LG Energy Solution's in-house independent company specializing in integrated management of renewable energy power grids has taken its first step into the power brokerage business.

LG Energy Solution announced on the 21st that its in-house independent company Able (Add Value to Energy Label·AVEL) passed the registration test in August to participate in the renewable energy generation forecast system organized by the Korea Power Exchange.

The generation forecast system is a system that predicts the output of renewable energy sources such as solar and wind power and settles payments based on accuracy. To pass the registration test, the renewable energy generation forecast error rate must be 10% or less.

In this test, Able became the first in Korea to pass the final registration for Jeju Island's 'solar-wind hybrid resource.' Wind power generation is difficult to predict, but Able succeeded in registration based on its advanced generation forecasting technology.

Employees of LG Energy Solution AVEL are monitoring renewable energy generation forecasts at the Jeju office.
[Photo by LG Energy Solution]

Through this, Able is also preparing for the renewable energy real-time bidding pilot project scheduled to be implemented in Jeju early next year.

The renewable energy real-time bidding pilot project is a system that allows renewable energy, which is difficult to predict, to participate in bidding on the same basis as general power generators. Jeju Island will be prioritized, with a trial operation starting in October this year, and it is expected to be expanded nationwide in the future.

Kim Hyun-tae, CEO of Able, said, "Passing this registration test enables us to actively enter the bidding pilot project," adding, "We will provide differentiated services based on our specialized technology in the energy storage system (ESS) field and contribute to establishing renewable energy as a main resource through cooperation with existing operators."

Able uses Energy Aggregation (EA) technology to predict renewable energy generation and operate ESS and other systems to efficiently manage renewable energy.

Starting with registration as a power brokerage business operator in March this year, Able has been working on advancing renewable energy generation forecasting to stabilize the Jeju power grid. From October, Able will hold informational sessions for solar power generation business owners to help them understand the system in preparation for participation in the Jeju pilot project.