ULSAN < invest Korea

(ULSAN=NEWSIS) Ulsan signed an agreement for promotion of new energy industry and establishment of energy convergence industrial complex with ten companies and organizations.

The agreement was made after the Ulsan's project to expand supply of ESS in industrial complex was selected for a local new energy industry promotion project of the Ministry of Trade, Industry and Energy.

ESS(Energy Storage System) maximizes energy efficiency by allowing selective use of electricity only when needed after storing generated electricity in batteries.

Ulsan's project to expand supply of ESS will be injected with KRW 5.3 billion to set up a large-scale ESS with capacity of 7MWh by June 2017.

According to the newly signed agreement, Ulsan city will provide administrative support while other organizations and private companies will take part in supply, establishment and maintenance of ESS.

Going further, the city aims to meet around 10% (1GW) of the national ESS supply target by 2030 and apply it to large energy consuming companies, power plants, power transmission and transformation facilities and renewable energy equipment.

you00@newsis.com