Incentives to encouraging solar power plant operators to use more battery energy storage systems (ESS) are being made available by South Korea’s government.
The government’s decision to provide incentives form part of its efforts to boost the country’s renewable energy market, according to Yonhap news agency.
Two firms are joining forces to build a lithium-ion cathode plant in South Korea to fuel the expected lithium battery demand for the electric vehicle market.
South Korean battery materials firm Ecopro has entered into a joint venture with the Chinese resources recycling company GEM to produce cathode materials in Pohang, South Korea.
South Korean firm Kokam’s lithium nickel manganese cobalt batteries were at the heart of record-breaking journey around the world.
Battery powered Solar Impulse 2 was the first plane to circumnavigate the globe using just solar power when it completed its journey last month.
Battery firm Kokam has secured a deal to supply a 13MW/h lithium-ion energy storage system (ESS) to aid frequency regulation to one of South Korea’s biggest utility companies.
The 36MW project will use the South Korean firm’s Ultra High Power nickel manganese cobalt (NMC) and NANO battery technology.
China battery maker BYD is in talks to sell a 3billion yuan (around $449million) share of the company to a South Korean electronics firm.
Samsung Electronics is set to confirm this week that it has successfully made play to enter the battery industry.
South Korean refiner SK Innovation Co has finalised a deal to supply its lithium-ion electric vehicle (EV) batteries for use in Mercedes Benz's EV cars.
Most of the details were kept secret, but what we do know is the deal is due to begin in 2017, according to reports by South Korean Yonhap English News.
A decision by South Korea to relax power distribution regulations in the country could open the gates for energy storage companies seeking new markets.
Local law insists the State-run Korea Electric Power Corporation (KEPCO) is the exclusive power distributor, but this will change in July when the government eases regulations to allow companies and individuals to buy and sell electricity.