PowerStream, Korean utility agree to work together

VAUGHAN, ON -- - A Memorandum of Understanding MOU signed recently between PowerStream and the Korea Electric Power Corporation KEPCO, South Korea's only electric utility, has set the framework for the two companies to work together on a project which will be of mutual benefit.

The MOU, signed by Mr. Brian Bentz, PowerStream President and CEO and Dr. Cho, Hwan-Eik, KEPCO President and CEO, in an official ceremony at PowerStream's head office, specifically references the use of Micro Grid and Smart Grid technologies with an objective of developing a large-scale application that would serve as a model for further advancement of these technologies in world-wide electricity distribution systems.

Both PowerStream and KEPCO are proven leaders in the implementation and use of Smart Grid and Micro Grid technologies within their respective jurisdictions. In 2013, PowerStream built a Micro Grid demonstration project at its head office while KEPCO has committed to invest over $7 billion US in its smart grid business by 2030 to make electricity distribution more efficient and decrease Korea's greenhouse gas emissions.

Joining the two utility CEOs at the recent signing ceremony were a delegation of officials from KEPCO as well as members of PowerStream's Board of Directors, Executive and Senior Leadership Teams.

Related News

Three New Solar Electricity Facilities in Alberta Contracted At Lower Cost than Natural Gas

CALGARY - Three new solar electricity facilities to be built in south eastern Alberta (Canada) have been selected through a competitive process to supply the Government of Alberta with 55 per cent of their annual electricity needs. The facilities will be built near Hays, Tilley, and Jenner, by Canadian Solar with Conklin Métis Local #193 as 50-percent equity owners.

The Government of Alberta's operations have been powered 100 per cent with wind electricity since 2007. Upon the expiration of some of these contracts, they have been renewed to switch from wind to solar energy. The average contract pricing will be $0.048 per kilowatt…

READ MORE
hydro quebec meters

Class-action lawsuit: Hydro-Québec overcharged customers up to $1.2B

READ MORE

powerlines

U.S. Grid overseer issues warning on Coronavirus

READ MORE

power tower

California Considers Revamping Electricity Rates in Bid to Clean the Grid

READ MORE

power pylons

More pylons needed to ensure 'lights stay on' in Scotland, says renewables body

READ MORE