LG Energy Solution has been selected as the operator for the renewable energy bidding service at the Jeju Hallim Offshore Wind Farm, the largest offshore wind farm in South Korea. The company announced on the 10th that it will manage the operations of all domestic offshore wind farms operating under the renewable energy bidding system. The Hallim Offshore Wind Farm, with a capacity of 100MW, spans a sea area of 5.5㎢ and operates 18 wind turbines rated at 5.56MW each, producing an average of 234,913 MWh of clean renewable energy annually.
LG Energy Solution will predict the power generation of the Hallim Offshore Wind Farm and provide renewable energy bidding services both the day before and in real time. This will allow for participation in Korea Electric Power Corporation’s bidding system to facilitate the power trade, ultimately delivering renewable energy to consumers nationwide.
Currently, LG Energy Solution is the only company that operates a Virtual Power Plant (VPP) by building stand-alone Energy Storage Systems (ESS). Based on this experience, it provides comprehensive solutions for renewable energy bidding services, demonstrating excellent renewable energy operational capabilities with low power generation prediction error rates.
The selection of LG Energy Solution as the operator of the Hallim Offshore Wind Farm involved evaluations in various categories including performance record, prediction accuracy, service quality, and business operation capability, where the company scored highly. Previously, as the power brokerage business operator for Tamra Offshore Wind Farm, Jeju’s first offshore wind farm, LG Energy Solution had its technical leadership recognized for stable bid management and operation.
LG Energy Solution’s distinguished expertise in renewable energy operations is evident from its extensive experience in managing the more complex offshore wind energy compared to other forms of renewable energy. Currently, the company operates the renewable energy bidding system for all offshore wind farms located in Jeju. Offshore wind energy is considered more challenging to predict and manage compared to onshore wind or solar energy due to the fluctuating sea conditions.
An official from LG Energy Solution stated that the stable operation of the demanding offshore wind power business itself proves the company’s capability in managing renewable energy bidding systems. Hwang Won-pil, head of LG Energy Solution’s EaaS business division, remarked, “We are leading the renewable energy bidding market as the overwhelming number one, aiming to provide differentiated customer value by building a stable business model that contributes to energy circulation beyond battery manufacturing.”