LS Electric to build ESS in Jeju, develop it into major business (Korea)

LS Electric, an electrical equipment manufacturer, is building a 10-megawatt power conditioner (PCS) and 40-megawatt-hour battery in Hallim-eup, Jeju City.
The installation of the energy storage system (ESS) has begun. It will be completed in November and commercial operation will begin. The company said, "Through the construction of this large-capacity, long-period ESS, we will be able to generate a large amount of renewable energy.
"The project will help stabilize the power grid by storing excess electricity produced in the Jeju region and supplying it when demand surges," he said.
Prior to this, in November 2023, the company acquired Lee Jisoo Asset Management, consulting firm Confah, and solar
The company formed a joint consortium with SPV, a power generation company, and was selected as the operator for the Hallim area in the Jeju 1st Long-Cycle Secondary Battery Energy Storage System (BESS) Construction Project.
Based on its smart energy business, which has been approved in Korea as well as overseas, including Japan and the UK, LS Electric will carry out the engineering, procurement and installation (EPC) of the project and will provide the power over the next 15 years.
LS Electric will also handle operation and maintenance (O&M). Song Chang-hee, head of the smart energy division at LS Electric, said, "This project will be the first to achieve significant results in large-capacity ESS construction projects in Korea.
"We will create new businesses and make the ESS business the core of our business."