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Doosan Heavy wins domestic, foreign energy storage contracts

2018/05/13 15:50

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SEOUL, May 13 (Yonhap) -- Doosan Heavy Industries & Construction said Sunday that it has secured several orders for energy storage projects from home and abroad as it expands its footprint in the growing business sector.

The South Korean company, which is an industry leader in such areas as energy solutions and casting and forging products for power plants, said it won an energy storage system (ESS) deal from clean energy and solution provider SK E&S.

ESS refers to a system of storing energy when there is excess power and using this when demand is high.

Such a system can make the best use of energy capacity without resorting to more power generation.

Doosan, which did not release information on the size of the contract, said it will be in charge of supplying the ESS with SK E&S responsible for investment, maintenance and operations of facilities.

It said the 70 megawatt hour capacity ESS will be set up by September. The project will make full use of the company's know-how in the sector.

In addition, the company said it will work with the SK E&S to set up a microgrid for renewable energy like solar power that is in high demand.

Besides such developments, Doosan said it secured a deal to supply ESS to a major power substation in Michigan and is working with affiliates to build ESS facilities that can be used to store solar generated power.

It has used available space at its main headquarters in Changwon to build ESS facilities.

Global data said the market for energy storage will hit US$3.9 billion in 2019 and surge to $8.2 billion in 2024. Such growth promises considerable potential for companies that are positioned to take advantage of the forecast for a rise in demand.

A solar power station and ESS facility set up at Doosan Heavy's learning center in Changwon, South Korea (Yonhap) A solar power station and ESS facility set up at Doosan Heavy's learning center in Changwon, South Korea (Yonhap)

yonngong@yna.co.kr

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