LG Energy Solution announced that it has been selected to operate the renewable energy bidding service for Jeju Hanlim Offshore Wind Farm, Korea’s largest offshore wind farm.
This makes the company responsible for managing all offshore wind farms in the country under the renewable energy bidding system.
LG Energy Solution was chosen due to its proven expertise in managing Jeju Island’s first offshore wind farm, Tamra Offshore Wind Farm, with stable bidding management.
The Hanlim Offshore Wind Farm has a capacity of 100 MW and spans 5.5 km², featuring 18 wind turbines, each generating 5.56 MW, producing an annual output of 234,913 MWh of renewable energy.
Since last year, Korea has implemented a bidding system for renewable energy, starting with Jeju Island, allowing LG Energy Solution to forecast and participate in the bidding process through the Korea Power Exchange, ensuring efficient energy distribution.
LG Energy Solution is the only company operating a Virtual Power Plant (VPP) with a stand-alone Energy Storage System (ESS), enabling precise energy management and low error rates in power generation forecasts.
The company’s strong track record, accurate forecasting, and extensive experience with offshore wind farms contributed to its selection as the operator for Hanlim Offshore Wind Farm.
LG Energy Solution manages the renewable energy bidding system for all offshore wind farms on Jeju Island. The company is expanding beyond battery manufacturing to shape new business models that enhance energy circulation and provide differentiated value to customers.