Kim Haejung, CEO of SK Eteonics (second from left), and Yoon Jungtaek, CEO of Top Sun (third from left), are holding a joint business agreement ceremony for the development of renewable energy power generation and Battery Energy Storage System (BESS) projects. SK Eteonics
SK Eteonics announced on November 12 that it had signed a "Memorandum of Understanding (MOU) for Joint Development of Renewable Energy Power Generation and Battery Energy Storage System (BESS) Projects" with Top Sun, a solar integrated solutions company led by CEO Yoon Jungtaek.
BESS refers to infrastructure projects that involve the installation and operation of Battery Energy Storage Systems (BESS) to enhance the stability of power grids using renewable energy sources such as solar and wind power. SK Eteonics and Top Sun stated that they entered into this business agreement to jointly pursue renewable energy development projects by combining their respective capabilities in development, construction, and operation, and to actively participate in bids for the Central ESS Contract Market.
The Central ESS Contract Market is a system introduced by the government in 2023 to ensure grid stability and efficient power supply management, and is operated by Korea Power Exchange. In the first half of 2025, bids totaling approximately 540 megawatts (MW) were completed, and the government plans to gradually expand ESS facilities and increase investment going forward.
In the bid held in July, SK Eteonics was selected as the preferred bidder for a 40 MW ESS project within the Gasi-ri Wind Farm in Jeju. With a battery capacity of 240 megawatt-hours (MWh), the project is scheduled for commercial operation for 15 years after its completion in December 2026.
Under this agreement, SK Eteonics will leverage its experience in developing and operating a diverse renewable energy portfolio-including ESS, solar, and onshore wind power-to lead renewable energy development projects and oversee the development and long-term operation of ESS. Top Sun will be responsible for tasks such as design and construction, utilizing its expertise in building transmission lines and substations for stable grid connection of renewable energy power plants.
Kim Haejung, CEO of SK Eteonics, stated, "With large-scale power demand from AI and data centers on the rise, and growing demand for distributed and renewable energy, the importance of BESS in addressing intermittency and ensuring power stability is increasing. As the largest ESS operator in Korea, we will respond swiftly to market changes through collaboration with domestic partners."
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