On November, 19, 2018, KEPCO – Korea’s leading power provider – officially reported that it is planning to blockchain together with up-to-date energy solutions during creation of their next-generation micro grid.

According to the official press release, KEPCO’s new project named “Open Micro Grid” aims at improving energy infrastructure for the local hydrogen economy. That will be achieved using three principles: decentralization, decarbonization and digitalization. Those are considered as major driving forces of the coming energy industry.

KEPCO is Korea’s largest power provider with market capitalization about 15.9 billion USD. It is controlled by South Korean government and a state-controlled bank and in fact, it is a monopolist in the generation and distribution of energy in Korea.

The press release informs that earlier micro grids faced difficulties in providing stable power because they comprised mainly small PhotoVoltaics, wind turbines, and energy storage systems. At present, KEPCO develops open micro grids will draw on an additional fuel cell as a power source, and this will increase energy self-reliance and efficiency, without the emission of greenhouse gases. The experts suggest that micro grids will be more interoperable, allowing preventing “system bottleneck” and fragmentation in the industry.

All in all, the press release outlines that KEPCO has plans to create the first mega-wattage-scale micro grid in South Korea.

Source:

https://cointelegraph.com/news/koreas-largest-power-provider-to-use-blockchain-for-eco-friendly-micro-grid