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South Korea launches a distributed network energy storage system project; by 2030, it will invest 558.6 billion won (558.60 billion won).

2026-07-10 09:47:48

SNDK7.45%

NVDA-0.70%

GLW4.53%

XAUT-0.03%

PAXG-0.01%

According to South Korea’s Ministry of Climate and Energy, on July 10 the ministry signed agreements with nine energy companies to launch a distribution grid energy storage system (ESS) project, aiming to address renewable energy curtailment and interconnection issues in South Korea and Jeju. The government plans to invest 558.6 billion won by 2030. Selected companies, including LG Energy Solution, SK E&S, and HD Hyundai Electric, will deploy 128 MW of ESS capacity across 32 distribution lines, interconnecting 182.4 MW of standby solar power in advance. Currently, the project aims to deploy about 700 MW of ESS by 2030 to enable an additional 1 GW of renewable energy capacity to connect. $SNDK$NVDA$GLW$XAUT$PAXG

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