Korea Midland Power Selected as Preferred Bidder for 96 MW BESS Project Worth 150 Billion Won

576 MWh to Be Installed at Hwawon Substation in Haenam, Jeollanam-do
Stable Revenue to Be Secured Through a 15-Year Long-Term Contract

Korea Midland Power and Tapseon were selected as preferred negotiation partners in the 2025 2nd ESS Central Contract Market competitive bidding for the Haenam (Hwawon) Battery Energy Storage System project. Photo by Korea Midland Power

Korea Midland Power has been selected as the preferred bidder for a 96 MW Battery Energy Storage System (BESS) project in the largest Energy Storage System (ESS) public offering project in Korea.

Korea Midland Power announced on the 23rd that it was finally selected as the preferred bidder for a 96 MW BESS project (with a battery capacity of 576 MWh) in the "Second Energy Storage System Central Contract Market Competitive Bidding of 2025" organized by the Korea Power Exchange.

This bidding was the largest ESS public offering project in Korea, with a total scale of 540 MW (500 MW on the mainland and 40 MW in Jeju). Korea Midland Power formed a consortium with Tapseon Co., Ltd. and proposed a project to build ESS facilities in the area around the Hwawon Substation in Haenam-gun, Jeollanam-do, and was ultimately selected.

The total project cost is approximately 150 billion won, and Tapseon will be responsible for engineering, procurement, and construction (EPC). The selected project operator will secure stable profits through a long-term contract over the next 15 years and operate the project.

BESS is a facility that stores surplus electricity generated during periods of high power production and supplies it during periods of high demand, and is regarded as core infrastructure for mitigating grid instability arising from the expansion of renewable energy. In particular, in the Jeollanam-do region, the share of renewable energy generation is rapidly increasing and the frequency of output curtailment is rising. The installation of this ESS is therefore expected to contribute to grid stabilization and improved efficiency in transmission network operations.

Lee Youngjo, President of Korea Midland Power

Korea Midland Power plans to continue participating in related public offering projects in the future, based on the BESS construction and operation experience accumulated through this project. In addition, the company intends to expand its business portfolio to include large-scale offshore wind power, virtual power plants (VPP), and renewable electricity supply businesses, thereby strengthening its competitiveness as a global integrated energy company.

Lee Youngjo, President of Korea Midland Power, said, "The BESS business is an essential facility for grid stabilization and will play an important role in the national policy to expand renewable energy," adding, "We will continue to actively support the government's energy transition policy and take the lead in reducing greenhouse gas emissions and expanding clean energy."