Samsung SDI Executed MOU with KEPCO for Export Cooperation in New Energy Industries
Post. 2016.04.21
- ◇ Initiatives for Joint Entry into Overseas New Energy Businesses between KEPCO and Samsung SDI
- ◇ President of KEPCO, Cho Hwan-Eik, said, “The MOU this time will serve as the cornerstone for assault on the global market.”
- ◇ President of Samsung SDI, Cho Nam Seong, said, “The strengths of both companies will be combined to produce the synergy effect.”
□ Samsung SDI embarks on the assault on the global ESS market under the cooperation with Korea Electric Power Corporation (KEPCO). On April 19th, Samsung SDI and Korea Electric Power Corporation (KEPCO) executed the MOU (memorandum of understanding) for business cooperation in the field of ESS. The gist of the MOU this time is that if KEPCO discovers the overseas electricity business model, Samsung SDI will supply the batteries and when Samsung SDI tenders bids for ESS projects solicited by major overseas power generating companies, it will cooperate with KEPCO as the partner for the project implementation.
In the coming years, Samsung SDI and Korea Electric Power Corporation (referred to as “KEPCO” hereafter) will cooperate with each other in a diversity of fields that utilize ESS. In particular, the two companies will integrate their business capabilities for reciprocal support of related projects such as the smart home, farm, factory and town projects and the energy internet project and they also plan to make joint progress of the export projects for the overseas MV(Medium Voltage) ESS’s in North America, Southeast Asia and other areas, frequency regulation ESS’s and the ESS’s associated with renewable energy. Samsung SDI will particularly supply the batteries optimized for each type of projects.
At the signing ceremony the day, president of KEPCO, Cho Hwan-Eik, said, “Samsung SDI will find the opportunity to establish its solid position as a global leader in the field of ESS by way of this MOU,” stressing, “The MOU executed this time will serve as the cornerstone for targeting the global new energy market well beyond the domestic boundary.”
Meanwhile, Samsung SDI has already been recognized for its technological capabilities through a number of domestic and overseas ESS projects. In March last year, Samsung SDI executed the MOU for the joint development and sales of the ESS solutions for micro-grids (independent power generating network on a smaller scale) with ABB from Switzerland, a global leading company in electric facilities, and in July it executed a contract for supply of ESS’s with Duke Energy, the largest power generation company in North America. In addition, the frequency regulation (FR) ESS which commenced operation for the first time in the country at Shinyongin Substation in July last year and the ESS’s for micro-grids established across the nation were the result of cooperation between Samsung SDI and KEPCO. The experience of successful implementation of these projects to date is expected to serve as the fertile ground for the cooperation between Samsung SDI and KEPCO in the coming years.
