Seoul, 21 December 2021: Enel X Korea, the country’s leading independent aggregator in virtual power plant (VPP) and demand response (DR) services, recently launched 10 renewable energy generation facilities across the country. The 10 solar ‘power plants’ are installed on the rooftops of factories in industrial complexes across Korea and will provide clean energy to the grid in the regions of Changnyeong South Gyeongsang, Gyeongsan North Gyeongsang, Nonsan South Chungcheong and more.
The solar facilities are functioning at full-scale and are capable of delivering up to 6.2MW of clean power capacity to the electricity grid. The ‘win-win’ power generation model, carried out as a joint investment between Enel X and Korea Midland Power (KOMIPO), sells the power generated to the local electricity grid, while the participating sites receive payments in the form of a rental fee for leasing their roof space to Enel X.
Site manager of Cheon-An solar facility said, “We are excited to be part of the Enel X solar power generation initiative. By creating a secondary use for our production site’s roof space, we can give back to the community by creating clean energy for the local electricity grid. The win-win model allows us to share in the revenue generated from the solar power, which contributes directly to our bottom line.”
Hyung-min Kim, Country Manager of Enel X Korea, said, “We are proud to have launched 10 new solar power generation sites that will contribute to a more sustainable energy supply in Korea. The new solar capacity generated will benefit customer sites by enhancing their renewable energy credentials and generating a new source of revenue that can lower electricity bills or be reinvested into new sustainability initiatives. The model is de-risked for businesses, with Enel X funding and managing the turnkey solution. We will continue to contribute to the nation’s decarbonization efforts with our distributed energy solutions and flexibility services for businesses.”
The generation facilities of Enel X and KOMIPO amount to 58,000m2 (17,000-pyeong), can generate 8GW of power annually, and are forecast to reduce ~376 tons of carbon emissions each year. This carbon offset is equivalent to planting 57,000 trees in Korea. The electricity generated from each site is sold to the Korea Power Exchange (KPX) in real time, and the Renewable Energy Certificate (REC) price will be sold throughout a 20-year long-term fixed contract with KOMIPO.