Korea East-West Power (EWP) is putting the government's energy demand management policy into practice in the field and accelerating its "energy efficiency" projects. Energy efficiency means reducing the energy used instead of increasing power supply.
It is working with local governments to create a carbon-reduction model, supporting the introduction of integrated energy solutions on production sites of corporations, and presenting concrete plans to turn university campuses into future-oriented demonstration venues.
8월 Korea East-West Power (EWP) signed a business agreement to build a consultative body to promote building energy efficiency projects with four institutions, including Gangnam District in Seoul. Along with several organizations including the Korea Energy Agency (KEA), EnergyX, and the Kiel Institute, it is pushing energy efficiency projects for energy-intensive buildings in the area.
In Gangnam District, 81% of greenhouse gas emissions come from the building institutional sector. Korea East-West Power (EWP) will first invest in the installation costs for improving energy efficiency based on energy consumption diagnosis results and also handle maintenance and management.
6월 last year, it also signed an agreement with Dongdaemun District in Seoul. Following the Korea Energy Agency (KEA) and EnergyX, it is carrying out a joint project to reduce carbon emissions from buildings with four universities in the district (Kyunghee University, University of Seoul, Hankuk University of Foreign Studies, and Sahmyook Health University) and the Federation of Traditional Market Merchants.
Under the structure, Korea East-West Power (EWP) first invests in energy diagnostics and project design for universities and traditional markets, as well as initial system build-out expenses, and then shares the savings during the project period before transferring ownership. Local governments achieve carbon reduction without fiscal burden, and the energy savings are returned to residents, making it a model that satisfies both public interest and economic viability.
Korea East-West Power (EWP) is promoting the "EWP energy diagnosis project" to ease the energy burden on small and medium-sized and mid-sized corporations. In cooperation with the Productivity Headquarters and the Korea Institute of Industrial Technology, it provides a "one-stop energy-saving service" covering diagnostics, solutions, and after-service for root industry corporations. Small and medium-sized corporations can improve energy efficiency without equipment investment risk.
The approach is showing results at large industrial sites as well. The GS Networks logistics center is a representative case. 1월 GS Networks installed more than 2,600 high-efficiency smart light-emitting diode (LED) fixtures and a monitoring control system at two sites, Incheon and Yongin Namsa Center, without spending investment costs. Over the five-year project operation period, it is expected to save about 700 million won in electricity bills.
Korea East-West Power (EWP) began with Dong-Eui University in Busan in 2021 and has built "campus energy efficiency systems" at 12 universities. At Yonsei University (Sinchon), it installed about 42,000 smart energy devices across 62 buildings to analyze real-time energy use patterns and applied an automated control energy management solution. It expects to save about 1.1 billion won per year in electricity bills during the project operation period.
5월, it signed a campus energy efficiency business agreement with Dankook University. It will install smart energy devices and a platform for 20 buildings on the Cheonan campus of Dankook University. Completion is slated for Nov., and it plans to operate the system for the next 10 years. It expects to save about 500 million won in annual energy expenses and reduce carbon emissions by 1,165 tons (t).
Korea East-West Power (EWP) has unveiled an innovation model that dramatically reduces power consumption through smart energy solutions co-developed with partner corporations. Recognizing these achievements, it received the prime minister's commendation in the energy efficiency improvement category at the "2024 Korea Energy Awards."
Kwon Myeong-ho, president of Korea East-West Power (EWP), said, "To move toward a low-consumption, high-efficiency industrial structure, the efficient use of energy is essential. With the recognition that 'power saving is the same as building an eco-friendly power plant,' we will continue to expand our projects to broaden the efficiency ecosystem."