LSIS Chairman Koo Ja-kyun. (Photo: LSIS)

LSIS won a large-scale project to construct and manage a 50MW solar power farm in Morioka, Iwate Prefecture, Japan. The latest deal followed the company’s recent landing of Korea’s largest photovoltaic power plant project in Yeongam, Jeollanam-do.

Riding on the back of several winning orders in Korea and abroad, chances are high that the company will see the global smart energy business go well in the second half. LSIS bagged a 15 billion yen (161.3 billion won) contract for EPC as well as maintenance & repair on Morioka Photovoltaic Power Plant with Godo Tamayama Mega, the owner of the project, the Korean company said on June 28.
LSIS formed a consortium with Dohwa Engineering to participate in the project.

The deal calls for the launching of the Morioka Photovoltaic Power Plant project in July and dedicating a 50MW plant on a site covering some 1.25 million sq. meters by September 2021. Under a power purchase agreement, the plant will produce and supply electricity for some 16,000 households to Tohoku Electric Power.

LSIS will supply photovoltaic battery modules and other major systems and components, while LSIS Japan, an incorporated body of the company in Japan, will be in charge of dedication, engineering, procurement and construction (EPC), power efficiency guarantee, and operation & maintenance.

The latest project is the fourth mega photovoltaic power plant order LSIS has landed since 2009, when the company entered the Japanese market. LSIS succeeded in landing the latest project based on project experiences and technology reliability the company has accumulated from the Japanese market.

LSIS expects such photovoltaic power plant orders to be issued by not only Japan but also other parts of the world down the road in accordance with global energy transit trends. LSIS plans to tap global markets by making the most of its technology prowess and EPC capabilities in the smart energy sector while expanding its business turf through marketing strategies tailored to meet needs in the house solution and floating photovoltaic power sectors.

Figures, released by the American market survey institution HIS Market, showed that the size of the global photovoltaic power plant market is forecast to surge from 94GW in 2017 to 125Gw in 2020 to maintain sustained growth, so expectations on the expansion of sales in LSIS’s smart energy business sector are expected to rise.

In Japan, a picky country and the world’s third biggest photovoltaic power market, LSIS’s innovative technologies and differentiation project capabilities have been recognized and the company has won a mega project once again, an LSIS official said. LSIS will endeavor to yield tangible outcomes in the global market such as Southeast Asia beyond Japan, riding on the back of its differentiation solutions and EPC capabilities, he added.