KEPCO and Japan's SoftBank Group have reaffirmed their commitment to further their project aimed at connecting a power grid across Korea, Japan, China and Mongolia.KEPCO and Japan's SoftBank Group have reaffirmed their commitment to further their project aimed at connecting a power grid across Korea, Japan, China and Mongolia.
The Korea Electric Power Corporation (KEPCO) and Softbank, a internet, robotics and energy technology conglomerate, "have moved a step closer to the implementation of their ambitious project to construct a super grid that will connect a power grid across four neighboring countries," according to Korea's Pulse News.
It adds that a recent meeting between KEPCO president and chief executive, Cho Hwan-eik, and Masayoshi Son, chairman and chief executive of SoftBank resulted in a re-affirmed commitment to enhance their partnership in promoting a super grid project and exploring other energy projects that can usher in the fourth industrial revolution.
The super grid project is a multinational project that aims to build solar or wind energy farms in Mongolia and transmit energy to neighboring countries China, Korea, and western part of Japan via a seabed power grid.
Cho recently set forth a vision to deliver energy to be produced in Mongolia where energy cost is reported to be only one tenth of that in Japan to Japan via Korea.
Cho said that KEPCO aims to boost its sales to 100 trillion won ($88.9 billion) in 2025 by building the Northeast Asia energy belt and incorporating leading digital technology that can expedite the fourth industrial revolution in the energy sector. Last year, the company raised 60.19 trillion won in sales, reported Pulse News.
KEPCO leverages IoT tech
In other news, last year, KEPCO announced that it was using Internet of Things technology to establish an accident prevention system at power transmission facilities.
Business Korea reported that KEPCO was the "world’s first power company that leads the accident prevention system establishment."
While power companies globally have constructed test prevention system, developed by Internet of Things producers at their substations, KEPCO established and announced its international standard “IEC61850” in advance.
The utility’s international standard “IEC61850” has led to the development and opened technical data to all companies so that all the products can have compatibility for the first time in the world. Read more...