Sep 18, 2024
ISAAC Engineering, ISAAC GES, and EIPGRID have signed a Memorandum of Understanding (MoU) to launch a collaborative effort aimed at pioneering a Virtual Power Plant (VPP)-based regional energy business model. The partnership is set to integrate smart energy community initiatives at the local government level with process automation solutions for industrial complexes, fostering a sustainable, efficient approach to energy management.
This collaboration seeks to enhance energy production and consumption at the community level through VPP technology. By leveraging the recently enacted Special Act on Revitalizing Distributed Energy, the partners plan to explore profit-generating, decarbonized energy coin models linked to local currencies—enabling local governments to capitalize on green energy incentives and innovations.
Harnessing Virtual Power Plant (VPP) Technology
EIPGRID, a global leader in energy management software, will deploy its VPP platform to optimize energy supply and demand in real time. Integrating Distributed Energy Resources (DERs) like solar, wind, and battery storage, the platform offers flexible, cost-effective power management tailored to local government and industry needs. As Korea’s first provider of commercial VPP services for utility companies from Japan and beyond, EIPGRID brings essential platform capabilities and operational expertise to the venture.
Maximizing Efficiency with Energy Storage Systems (ESS)
The VPP model's potential will be further enhanced by ISAAC GES’s expertise in renewable energy EPC and O&M, particularly with Energy Storage Systems (ESS) and Photovoltaic (PV) technology. ESS plays a critical role in stabilizing the grid by balancing the variability of renewable sources and providing stored energy during peak demand. This strategy promises cost savings and energy efficiency benefits for local communities, offering demand management and competitively priced energy through shared PV resources.
Integrating Smart Factory Solutions for Industrial Optimization
ISAAC Engineering is improving manufacturing processes for both domestic and international clients with its Hybrid Operational Technology (OT) solutions. By combining EIPGRID’s VPP capabilities with ISAAC’s smart factory technologies, the initiative aims to extend real-time energy optimization across industrial complexes and local government sites. This integration is expected to lower energy costs for communities while boosting process efficiency in local industries.
Expected Results
Through this agreement, ISAAC Engineering, ISAAC GES, and EIPGRID aspire to establish a self-sustaining energy model for local governments. By combining VPP-enabled smart energy community services with industrial automation solutions tailored to local industries, the project aims to reduce costs, support carbon neutrality targets, and enhance grid stability. This collaborative approach will serve as a blueprint for future investments in renewable energy, maximizing both community resilience and environmental sustainability.