Energterra (ISIN: KR7025520008), a pioneer battery technology company that is reinventing batteries for a cleaner tomorrow, is pleased to announce that it has won a tender which will make it a key player in a local battery-based energy storage project. Energterra will implement its knowledge and experience in the energy storage systems to deliver an outstanding facility.
The project based on the latest calculations, will be the biggest among the others the firm has built previously. Expected to be accredited in late 2021, the new storage system, which represents an investment of around USD12 million, Energterra will be able to deliver and execute the firm’s multiyear experience and proficiency in high energy storage solutions. The project will comprise 10 state-of-the-art integrated 2.0 MWh capsules, which will be designed and manufactured at Energterra’s production site. The building and development of a renewable energy storage system that is discontinuous and not centralized implies an improved security system of the electricity grid through breakthrough and flexible electricity storage capacities, especially in the form of batteries.
The new project will be the largest one Energterra has ever built and it will be used to provide fast reserve services to maintain the stability of the existing local power grid. The new energy storage system initiative is part of the government’s policy to support and finance the development of electrical capacity through capacity mechanisms and storage systems.
“This project is part of Energterra’s plan to globally promote and participate in the development of the stationary energy storage solutions that are very important in the process of switching to renewable energy, which is intermittent by nature. It will significantly contribute toward the goal of increasing the share of renewables in the local energy mix, while helping to bring stability to the domestic regional power grid,” said Pang Myung-soo, Chairman and CEO of Energterra. “Energterra’s involvement in the electricity segment continues to expand. With more than 35% of the storage capacities allocated, Energterra was the leading winner of the first call for tenders organized”, added Mr. Myung-soo.
Energterra, is a pioneer battery technology company that has committed to create a world of boundless energy where everyone has access to clean, secure and affordable energy. The company’s vision is to lead the De-Carbonization Revolution through its ground breaking products: CaCell and ExtraLiS Battery Solutions enabling a safer, greener, more connected future of mobility. Energterra’s strong team of engineers combine their experience in vehicle development with R&D and manufacturing experience to develop and deliver leading battery technologies. Experienced scientists and engineers are one of great intangible assets which make the company to stand out among other peers of the industry.