Daemyung Energy Signs Business Agreement with Enlighten to Improve VPP Technology
[Asia Economy Reporter Jang Hyowon] Daemyung Energy (CEO Seo Jonghyun), an innovative green solution company in renewable energy, announced on the 12th that it has signed a business agreement with Enlighten (CEO Lee Youngho) for renewable energy power generation projects.
Through this business agreement, Daemyung Energy and Enlighten will mutually cooperate on joint development projects of distributed renewable energy resources as well as construction, operation, and power services. Specific agreement details include ▲power brokerage ▲RE100 ▲O&M ▲asset management.
Daemyung Energy has established a research organization to enter the virtual power plant (VPP) business, independently developing PMS (Plant Management System) for each power plant and EMS (Energy Management System) that integrates and manages them, operating power generation complexes. Additionally, through an advanced fault prediction system, it has built a digital O&M platform to improve the operation rate and utilization of power plants.
A company official stated, “This business agreement is expected to be a stepping stone for Daemyung Energy’s leap into the VPP business,” adding, “To secure competitiveness in the virtual power plant business, Daemyung Energy plans to continuously expand renewable energy infrastructure based on its existing pipeline.”
He continued, “Moreover, we are participating in the power generation forecasting project led by the Korea Energy Agency using renewable energy produced at our self-operated power plants,” and “We will continue to pursue various new businesses for the virtual power plant business.”
A virtual power plant is a system that connects distributed energy resources such as wind and solar power through a network to monitor, predict, and optimize the generated electricity, playing a role in stabilizing the power grid.
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Meanwhile, Enlighten is the leading energy IT platform company in Korea and was selected by the Ministry of Science and ICT in 2020 as a global ICT future energy unicorn company. It has also signed a “third-party power purchase agreement (PPA)” including with Naver and Korea Electric Power Corporation, supplying renewable energy to Naver.
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