Savoie-Technolac, Chambéry (France), January 19, 2015 – South Korea is a strong growth country with an important industrial sector. The electric grid which is very similar to the French one with its 100 GW installed capacity and its 3% annual growth faces with consumption peaks while being isolated electrically. In this context, Demand Response and peak consumption management are strategic issues.
Last November, South Korea launched a Demand Response program one of the most ambitious in the world, by contracting 1500 MW of flexible loads which could be activated by KPX (Korean Power Exchange). Energy Pool, the biggest demand response expert in Europe, managing demand response capacity across various industrial sectors has already launched its activity in Japan in 2014. Energy Pool intends now to become a key player on the Korean Market. Hyosung, a diversified industrial conglomerate is a significant market player in the electricity sector and has also high ambitions regarding Demand Response.
With their complementary expertise, Energy Pool and Hyosung signed today a Business Startup Agreement to enter jointly into the newly created Demand Response market in 2015. Energy Pool will provide its Demand Response expertise and manage operations. Hyosung will rely on its network of industrial partners and provide IT support. Both partners wish to fit rapidly this first partnership into a longterm cooperation enabling them to reach ambitious position on one of the most important Demand Response market in the world.
About Energy Pool
Energy Pool is the European leader in Demand Response. At the interface between the network operators and the consumers, Demand Response is an essential component of the smart grid. Pool Energy is operator of electricity modulation and aggregates large consumers to enhance their ability to adjust their consumption at critical times for the power grid through its network. Energy Pool is now controlling about 1,500 MW of capacity for the French electricity grid and is currently expanding abroad within more than 5 countries.
About Schneider Electric
A global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in Utilities & Infrastructures, Industries & Machine Manufacturers, Non-residential Buildings, Data Centres & Networks and the Residential sector. Focused on making energy safe, reliable, efficient, productive and green, the Group’s 150,000-plus employees achieved sales of 24 billion euros in 2013, through an active commitment to helping individuals and organisations make the most of their energy.
Hyosung Corporation, founded in 1966, with head office in Seoul (South Korea) develops, produces and distributes products for various applications in the power systems and industrial machinery industry, chemical industry, textile industry, information technology and construction industry. In 2013 the overall Hyosung Group made a turnover of approx. 11 billion US$ with worldwide more than 25,000 employees in 27countries worldwide. www.hyosung.com