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Renewable Energy-based Electricity Trade Hits Record High in 2016

Renewable Energy-based Electricity Trade Hits Record High in 2016

SEOUL, Jul. 6 (Korea Bizwire) — The volume of electricity generated from renewable energy hit a record high last year, aided by a surge in power generation coming from biomass and by-product gas, data showed Thursday. According to the data compiled by the Korea Power Exchange, a total of 19.35 million megawatt-hours worth of electricity [...]

Supply of Electricity Unaffected by Shutdown of Aging Coal Plants

Supply of Electricity Unaffected by Shutdown of Aging Coal Plants

SEOUL, June 2 (Korea Bizwire) – The supply of electricity in South Korea experienced little to no disruption when the newly introduced temporary shutdown of eight aging coal-fueled power plants took effect for the first time yesterday. According to the Korea Power Exchange (KPX), the daily maximum electricity demand was estimated at 68.85 million kW [...]

POSCO ICT Seeks to Sell Power Produced via Solar Panels

POSCO ICT Seeks to Sell Power Produced via Solar Panels

SEOUL, May 26 (Korea Bizwire) – POSCO ICT Co., a unit of South Korea’s leading steelmaker POSCO, said Thursday it plans to generate power from solar panels set up on rooftops of buildings and sell it to the state-run Korea Power Exchange. The company said the project involves generating small-volume power of around 1 megawatt. POSCO ICT plans to install infrastructure at its headquarters and factories, and gradually expand the production capacity. “We have a bright outlook on the [...]

Seoul City to Sell 5MW of Electricity through a “Virtual Power Plant”

Seoul City to Sell 5MW of Electricity through a “Virtual Power Plant”

SEOUL, May 20 (Korea Bizwire) — The City of Seoul registered a virtual power plant to sell 5MW of electricity saved by its 18 affiliated institutions (including its water recycling centers); the first time a local government body has done so. Seoul announced on May 18 that it registered a virtual power plant from 5MW of electricity [...]