KEPCO to Invest $1.8bn on Smart Grid by 2015

7 March 2011 (Last Updated March 7th, 2011 18:30)

Korea Electric Power Corporation (KEPCO) will invest KRW2 trillion ($1.8bn) until 2015 to develop a smart grid, which will reduce greenhouse gas emissions. KEPCO head of strategy for the technology Hong Sung Eui told Bloomberg that a smart grid, which helps cut energy consumption and acco

Korea Electric Power Corporation (KEPCO) will invest KRW2 trillion ($1.8bn) until 2015 to develop a smart grid, which will reduce greenhouse gas emissions.

KEPCO head of strategy for the technology Hong Sung Eui told Bloomberg that a smart grid, which helps cut energy consumption and accommodate more wind and solar power, is essential for reducing harmful gases as the power sector is the biggest emitter in every country.

According to Eui, two-way communications and other enhancements to the grid may reduce South Korea's annual power consumption by 10% by 2030.

KEPCO plans to invest KRW4.9 trillion ($4.3bn) by 2030 in transmission and distribution upgrades and another KRW1.4 trillion ($1.2bn) on expanding the use of renewable energy.

An upgraded power grid will also help the country reduce its energy imports.