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August 31, 2021

Hyundai Electric-Korea Zinc Battery Energy Storage System, South Korea

By Carmen

The Hyundai Electric-Korea Zinc Battery Energy Storage System is a 150,000kW energy storage project located in Ulsan, South Korea.

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Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
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by GlobalData
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The project was announced in 2017 and was commissioned in 2018.

Description

The Hyundai Electric-Korea Zinc Battery Energy Storage System was developed by Hyundai Electric and Energy Systems. The project is owned by Korea Zinc (100%).

The key applications of the project are reduce peak electricity cost, frequency regulation and grid support services.

Contractors involved

Hyundai Electric and Energy Systems and Korea Zinc have delivered the battery energy storage project.

Additional information

Hyundai Electric & Energy Systems Co. has signed a contract with Korea Zinc to build an industrial ESS with a capacity of 150 MW at Korea Zinc’s refinery plant in the southeastern city of Ulsan.

About Hyundai Electric and Energy Systems

Hyundai Electric and Energy Systems Co Ltd (HEES) carries out the business of manufacturing electrical equipment and energy solutions provider. Its product portfolio includes gas insulated switchgears, power transformers, AC drivers, generators and ship automation systems. The company is headquartered in Seoul, South Korea.

Methodology

All publicly-announced energy storage projects included in this analysis are drawn from GlobalData’s Power IC. The information regarding the projects are sourced through secondary information sources such as country specific power players, company news and reports, statistical organisations, regulatory body, government planning reports and their publications and is further validated through primary from various stakeholders such as power utility companies, consultants, energy associations of respective countries, government bodies and professionals from leading players in the power sector.

Related Companies

Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

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