• LG Energy Solution selected as the bidding operator of 100MW Jeju Hanlim Offshore Wind Farm in Korea
• The company expands its impact by integrating energy circulation into its business model beyond battery manufacturing.

LG Energy Solution recently announced that it has been selected to operate the renewable energy bidding service for Jeju Hanlim Offshore Wind Farm, Korea’s largest offshore wind farm.

With this, LG Energy Solution will be in charge of managing all offshore wind farms in the country that operate under the renewable energy bidding system. This comes after the company earned recognition for its technology leadership in managing and operating Jeju Island’s first offshore wind farm, Tamra Offshore Wind Farm, through stable bidding management.

With a capacity of 100 MW and a total area of 5.5 km² (59,201,507 ft²), the Hanlim Offshore Wind Farm is the largest of its kind in Korea. Its 18 wind turbines, each boasting a capacity of 5.56 MW, collectively generate an average of 234,913 MWh of clean, renewable energy per year.

Since last year, Korean government has introduced a bidding system for renewable energy – similar to the one used for thermal power plants – starting with Jeju Island. Using this system, LG Energy Solution will forecast the Hanlim Offshore Wind Farm’s power generation in advance, providing renewable energy bidding services both a day ahead and in real time. The company will then participate in the bidding process through the Korea Power Exchange, ensuring that renewable energy reaches consumers across the country.

LG Energy Solution is the only company operating a Virtual Power Plant (VPP) with a stand-alone Energy Storage System (ESS). This unique expertise enables the company to provide comprehensive solutions for renewable energy bidding, demonstrating excellence in energy management while maintaining a low error rate in power generation forecasts.

When it came to selecting an operator for the Hanlim Offshore Wind Farm, LG Energy Solution’s strong track record, accurate forecasting, superior service, and solid business operations made the company stand out. The company’s specialized exceptional capabilities in renewable energy operations were also a key factor, particularly its extensive experience with offshore wind farms, which are often more complex than alternative renewable energy facilities. LG Energy Solution currently manages the renewable energy bidding system for all offshore wind farms on Jeju Island, Korea’s largest island.

“Our strong record in stably operating offshore wind projects is a testament to our ability to manage renewable energy bidding systems effectively,” said a representative from LG Energy Solution.

“LG Energy Solution is now leading the market the renewable energy bidding market. Beyond battery manufacturing, we are shaping a new business model that contributes to energy circulation and brings more differentiated value to our customers,” said Wonpil Hwang, Leader of EaaS Business Department at LG Energy Solution.

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