Seoul: LG Energy Solution Ltd., South Korea's leading battery maker, announced Monday that it has been appointed as the renewable energy bidding service operator for the country's largest wind farm located on the southern island of Jeju. This strategic role places the company at the forefront of managing offshore wind farms in South Korea under the renewable energy bidding system.

According to Yonhap News Agency, South Korea introduced its renewable energy bidding system last year, beginning with Jeju Island. The system aims to improve the efficiency of renewable power generation by operating it similarly to traditional thermal power. In this system, renewable energy is traded through volume and price bidding competitions, akin to the processes used for nuclear and fossil fuel power.

The Jeju Hanlim Offshore Wind Farm, now under LG Energy Solution's management, is the largest offshore wind facility in South Korea, boasting a capacity of 100 megawatts (MW). It operates 18 wind turbines, each with a capacity of 5.56 MW, across a 5.5-square-kilometer offshore area. This setup generates an average of 234,000 megawatt hours of renewable clean energy annually.

As the designated operator, LG Energy Solution will be responsible for forecasting the power generation of the wind farm and submitting these forecasts to the power exchange. This will ensure that renewable energy is efficiently distributed to consumers throughout the country via power trading.

In addition to this new role, LG Energy Solution is the sole provider in Korea that has developed a standalone energy storage system (ESS) and operates a virtual power plant (VPP). By leveraging this expertise, the company maintains low error rates in power generation forecasts and provides comprehensive management solutions for renewable energy bidding.

The company's technological leadership was previously recognized when it served as the power broker for the Tamra Offshore Wind Farm, the first offshore wind project on Jeju Island. This experience underscores its capability in stable bid management and operation within the renewable energy sector.