LS ELECTRIC and CNCITY Energy have joined hands to preempt the distributed energy market, which is expected to develop after the implementation of the Special Law for the Promotion of Distributed Energy in June next year.
On September 25, LS ELECTRIC announced that it signed an MOU with CNCITY Energy to promote renewable and distributed energy at LS Yongsan Tower in Yongsan-gu, Seoul, South Korea.
At the signing ceremony, which was attended by LS ELECTRIC Chairman Koo Ja-kyun and CNCITY Energy Chairman Hwang In-kyu, the two companies pledged multifaceted cooperation to lead the distributed energy market that will develop before and after the implementation of the Distributed Energy Act next year.
The two companies will collaborate on establishing a master plan for future distributed grid projects, developing new business models to promote the designation of distributed energy activation special zones, cooperating on new energy services, and developing cooperation models for energy efficiency projects.
Through this, CNCITY Energy will develop new business models based on its various energy assets by partnering with Korea's top renewable power technology companies.
LS ELECTRIC expects to achieve a 'win-win' effect by establishing a specialized area for the activation of distributed energy, enabling it to develop its district electricity business in earnest while securing a test bed for its entry into the overseas distributed power distribution system market.
LS ELECTRIC and CNCITY Energy will establish a master plan to maximize profits by applying a future distributed grid operation system to the district electricity business.
In addition, the two companies will derive energy efficiency improvement measures for cogeneration and a future real-time grid operation model to promote the designation of the 'Distributed Energy Activation Specialized Zone' in earnest.
