Iljin Electric Enters DC Power Equipment Market

5kV DC Converter. [Photo by Iljin Electric]

[Asia Economy Reporter Kwak Min-jae] Iljin Electric announced on the 8th that it will participate in the domestic medium-voltage direct current (MVDC) power equipment demonstration project.

Iljin Electric will supply 35-kilovolt (kV) class medium-voltage direct current (MVDC) eco-friendly PP (polypropylene) cables for the DC power transmission demonstration project taking place at the Naju Innovation Industrial Complex in Jeollanam-do. Additionally, it will provide DC-exclusive power converters such as 5kV DC converters and 750-volt (V) DC inverters, as well as an independent microgrid energy management system (EMS) that controls power supply and demand.

According to the 10th Basic Plan for Electricity Supply and Demand, South Korea plans to increase the share of renewable energy generation from the current level of about 7% to 21.5% by 2030 to achieve carbon neutrality. Since the current domestic power infrastructure is based on alternating current (AC), a separate DC power grid needs to be established to efficiently supply renewable energy generated in DC to factories, buildings, and homes.

DC power grids have up to 20% higher energy transmission efficiency compared to AC power grids, and research and demonstrations to secure DC power grids are actively underway worldwide. Market research firm Navigant Research forecasts that the global DC power grid market will grow to 30 trillion won by 2030.

Hwang Soo, CEO of Iljin Electric, said, “Supplying DC power equipment for this DC power transmission demonstration project is a foothold for entering the DC power grid market,” adding, “DC-exclusive cables, power equipment, and EMS will become new growth engines leading the company’s second leap.”

This content was produced with the assistance of AI translation services.