EWP Holds Briefing Session for Korean Companies on Entry to Jamaica

President Kwon Myung-ho of Korea East-West Power (EWP). (Photos: EWP)

Korea East-West Power Co. (EWP) held a preliminary briefing session for Korean companies on the international bidding for 133 megawatt (MW) solar farms and 343MW energy storage systems, to be ordered and awarded by Jamaica Electric Power Corporation (JPS) this year, EWP said on Feb. 24.

The session served as an opportunity for a combined 30 people, including officials from seven Korean construction companies, ESS and other equipment and component makers to listen to explanations from Jamaican officials and have a Q&A session.

Officials of Korean companies attend a preliminary briefing session for Korean companies on the international bidding for 133 megawatt (MW) solar farms and 343MW energy storage systems, to be ordered and awarded by Jamaica Electric Power Corporation on Feb. 21.

EWP President Kwon Myung-ho said, “Korean companies suffer from hardships of exploring overseas markets by competing with lower prices in case of international biddings, and we will provide full support to construction and equipment makers so that they can win orders.”

Meanwhile, EWP has decided to expand and operate its own overseas market exploration programs designed to nurture leading exporters by holding overseas exhibitions with its cooperative companies and export negotiation sessions inviting foreign buyers.

EWP to Build Nation’s 1st Capacity Battery Energy Storage System in Jeju

The board of directors of Korea East-West Power Co. gave the go-ahead to a project to construct the nation’s first, and largest-capacity, battery energy storage system in Jeju. The project is to be launched soon, EWP said.

In 2023, EWP was awarded with the 140MWh battery energy storage system (BESS) project in Bukchon, Jeju in the nation’s first low-carbon contract market.

BESS is a system designed to contribute to stabilizing the power grid by storing up electricity when it oversupplies in the Jeju area and supplying it when power is required.

Jeju Island depends heavily on renewable energies, such as photovoltaic power and wind power, causing volatility and curtailment when power supply surpasses demand, so the necessity of BESS has been raised. Curtailment occurred on 65 occasions in 2021, 132 occasions in 2022 and 181 occasions in 2023.

EWP President Kwon said, “The project will be set as a BESS project precedent using the ’central contract market’ and it will be a pump-priming for stabilizing the power grid in the wake of the expanding of renewable energies, and we’ll do our utmost to build a shared growth model with neighborhood residents and achieve the goal of making Jeju a no-carbon island.”

Korea East-West Power and Ulsan National Institute of Science and Technology have joined forces to solve field work issues using big data and AI and implement collaboration projects creating new values. UNIST students are engaged om research and analysis. (Photos: EWP)

EWP Implements Collaboration Project with UNIST

Korea East-West Power (EWP) teamed up with Ulsan National Institute of Science and Technology (UNIST) to solve field work issues using big data and AI.

They also implemented collaboration projects, creating new values, EWP said on March 17.

The project is part of the “Companywide Big Data Analysis Tasks” that EWP has been implementing as its in-house innovation activities every year. It aims to solve problems and create values by developing data-based solutions, such as models, indexes and visualization.

It is being implemented in connection with the “Project Lab,” designed to provide working-level experiences to students.

The Project Lab is a program designed to provide support so students can experience and solve field work issues before they enter society.

It serves as an opportunity for students to enjoy hands-on experiences while companies can utilize students’ creative ideas.