ULSAN < invest Korea

Korea’s largest shipbuilder Hyundai Heavy Industries Co. on Thursday started running the world’s largest industrial energy storage system (ESS) installed at its Ulsan headquarters located on the southeastern coast of Korea.

An ESS captures energy for use at a later time, significantly improving energy efficiency. It can prevent power shortage at peak times and is the core facility for the commercialization of wind, solar and other renewable energies.

Hyundai Heavy Industries’ ESS was built by the shipbuilder’s sister company Hyundai Electric and Energy Systems Co. on an engineering, procurement, and construction (EPC) contract basis.

The two-story ESS commanding a total space of 1,180 square meters boasts the world’s largest electricity storage capacity of 51.5-megawatt hours, or which is equivalent to the volume nearly 15,000 people can use for a full day, according to the company.

The shipbuilder has also added a factory energy management system (FEMS), which helps to optimize energy usage by controlling all utilities including electricity, gas, and compressed air.

Hyundai Heavy Industries had the ESS constructed under an energy efficiency initiative carried out with the southeastern city of Ulsan and Korea Electric Power Corp. (KEPCO). The ESS and FEMS construction project took five months to complete and a total of 26 billion won ($23.9 million) was spent on building them, the company said.

The company expects it would be able to save more than 10 billion won every year once the ESS and FEMS start full operation, said a Hyundai Heavy Industries official.

Shares of Hyundai Heavy Industries finished Thursday at 147,500 won, up 500 won or 0.34 percent from the previous session.



By Woo Je-yoon and Cho Jeehyun

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (Nov. 23, 2017)