KEPCO investing over $7 billion in smart grid

subscribe

State-run Korea Electric Power Corp KEPCO said it would invest 8 trillion won US $7.18 billion in its smart grid business by 2030 to cut carbon emissions and boost the efficiency of electricity facilities.

Of the total investment 400 billion won per year will be spent in the next five years, 2.3 trillion won through 2020 and the remainder through 2030 to upgrade power transmission and distribution systems and switch meters, the company said in a statement.

South Korea said in early 2010 that it aimed for spending of 27.5 trillion won over the next two decades on smart grids to make electricity distribution more efficient, reduce greenhouse gas emissions and save $26 billion in energy imports.

The Organization for Economic Co-operation and Development's fastest-growing carbon polluter and the world's No.5 oil importer wants to create a nationwide smart grid by 2030 for an electricity market worth 68 trillion won.

In a smart grid, computers and sensors installed at power plants, substations and along power lines signal control centers that better manage the flow of electricity.

KEPCO added the investment would help it lift the proportion of power nationwide drawn from renewable sources, including solar and wind power, to 11 percent, and to target overseas markets with related technology.

Related News

doe logo

US Dept. of Energy awards Washington state $23.4 million to strengthen infrastructure

OLYMPIA - Washington state has received a $23.4 million Grid Resilience State and Tribal Formula Grant from the U.S. Department of Energy (DOE) to modernize the electric grid and reduce impacts due to extreme weather and natural disasters. Grid Resilience State and Tribal Formula Grants aim to ensure the reliability of power sector infrastructure so that communities have access to affordable, reliable, clean electricity.

“Electricity is an essential lifeline for communities. Improving our systems by reducing disruptive events is key as we cross the finish line of a 100% clean electricity grid and ensure equitable benefits from the clean energy economy…

READ MORE

California scorns fossil fuel but can't keep the lights on without it

READ MORE

byron_unit_2_nuclear

Hitachi freezes British nuclear project, books $2.8bn hit

READ MORE

Overturning statewide vote, Maine court energizes Hydro-Quebec's bid to export power

READ MORE

broken power lines

Canadian Scientists say power utilities need to adapt to climate change

READ MORE