LG Corp. announced today that it is introducing its "Complete Energy Value Chain"
LG Corp. announced today that it is introducing its "Complete Energy Value Chain," which promotes the production, storage and efficient use of eco-friendly energy, at Asia's leading electric power supply event, which is taking place on Jeju Island, Korea from October 27 to 29.
The LG exhibit is part of the Conference of the Electric Power Supply Industry (CEPSI). Using the motto: "Solution Partner for Energy: Innovation for a Better Life," LG is introducing energy solution products and technologies from LG-affiliated companies, including LG Electronics, LG Chem and LG CNS, at the largest exhibition booth at the event.
The exhibit will be attended by LG’s top management, including Jin-Soo Park, Vice Chairman & CEO of LG Chem; Dae-Hoon Kim, President & CEO of LG CNS; andJuno Cho, President & COO of LG Corp.
The LG energy products and technologies on display at CEPSI include a NeON solar module, offering high efficiency, an Energy Storage System (ESS) that provides world leading energy conversion efficiency, an ESS battery offering high energy output and long life, a Power Conditioning System (PCS) with a large capacity, and the world's first ICT-based Smart Microgrid Solution (SMS) that combines ESS with an Energy Management System (EMS).
"At LG, the energy solution business is becoming one of our most important business segments as it is considered a future growth engine. I believe LG is well positioned in this sector since we can offer comprehensive solutions over the full range of the 'Complete Energy Value Chain,'" said Sang-Yeop Baek, Senior Vice President of LG Corp.
"We have already attracted many leading customers to our energy solution businesses, which include ESS, electric car batteries, Advanced Metering Infrastructure (AMI), SMS, solar and more. “
LG Chem, the world's leading ESS battery maker, is displaying various ESS batteries, including an ESS that replaces standby power for frequency regulation in conventional power plants, a Peak Shifting ESS that stores electricity generated during low industrial activity periods for use at peak industrial times, and a Renewable Integration ESS that stores, transmits and distributes electricity produced from renewable energy sources like solar and wind.
LG Chem recently built and started operating a 32MWh ESS, the largest in North America, at the Tehachapiwind power cluster in California. The company also was recently appointed to supply batteries for the 10.8MWh ESS project that is the largest in Germany. Since 2010, the company has been building a strong eco-system to lead the ESS market in collaboration with leading global companies in the electricity and renewable energy sector, including ABB, AES, SMA and IBC Solar.
Thanks to its outstanding achievements around the globe, LG Chem has been named No.1 in global competitiveness as supplier of lithium-ion batteries for ESS according to a report released in 2013 from Navigant Research.
LG CNS has recently signed MOU with the Gyeongsangbuk-do provincial government and KEPCO, Korea's main power company, to transform Ulleungdo Island, off Korea's east coast, into an "Eco-friendly Energy Independent Island", highlighting the company's strength as a leading company in the SMS sector.
The company plans to turn Ulleungdo Island into the world's first 100% eco-friendly energy independent island by 2020. The project includes the use of renewable energy sources such as solar and fuel cells to replace conventional diesel generation facilities. It will also apply converged/combined independent SMS systems to connect large electricity capacity saved by ESS to an EMS which manages the energy efficiently.
AESIEAP: The Association of the Electricity Supply Industry of East Asia and the Western Pacific
ESS (Energy Storage System): Storage system that saves energy and enables it to be used efficiently when required
PCS (Power Conditioning System): Essential component of ESS that converts DC into AC
EMS (Energy Management System): Integrated IT system that helps to manage and control energy efficiently
Frequency Regulation: Saves 5% of total electricity output for standby power in order to adjust to real-time changes in power system frequency. When it replaces ESS, it can use electricity additionally.
About LG Corp.
LG is a leading global business group with business activities focused in the three key areas of Electronics, Chemicals and Telecommunications & Services. As one of the largest conglomerates in Korea, LG was established in 1947. It strengthened its management system and improved transparency by adopting a holding company structure in 2003. LG has 62 subsidiaries including LG Electronics, LG Chem and LG Display overseen by the holding company, LG Corp., with a workforce of 226,000 in more than 80 countries. Consolidated revenue was about USD 145 billion in 2013.