LS Electric Signs MOU with CNCITY Energy to Promote Renewable and Distributed Energy

Joint Development of New Businesses Such as Microgrid and ESS

LS Electric announced on the 25th that it has signed a Memorandum of Understanding (MOU) with CNCITY Energy (formerly Chungnam City Gas) to promote renewable and distributed energy.

The two companies agreed to collaborate on ▲ establishing a master plan for future distributed distribution network projects ▲ developing new business models to promote the designation of specialized zones for distributed energy activation ▲ and new energy service businesses.

CNCITY Energy will develop new business models, while LS Electric plans to build specialized distributed energy zones and actively advance the district electricity business.

Koo Ja-kyun, Chairman of LS Electric. [Photo by LS Electric]

The two companies will actively pursue the designation of specialized zones for distributed energy activation by deriving measures to improve energy efficiency in combined heat and power generation and future-oriented real-time distribution network operation models.

They plan to jointly develop new electric business cooperation models such as microgrids, convergence stations, and distribution-level Energy Storage Systems (ESS).

In addition to energy services, they will also develop energy efficiency projects such as Factory Energy Management Systems (FEMS) and Zero Energy Buildings (ZEB).

Gu Ja-gyun, Chairman of LS Electric, said, "Through smart distribution technology, we will derive a successful model for the distributed energy business and lay the foundation for entering the global distribution market."

Hwang In-gyu, Chairman of CNCITY Energy, said, "Starting with cooperation with LS Electric, we will focus on developing 'infrastructure suitable for the future energy environment' that resolves regional energy imbalances."

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