Hyosung Heavy Industries said on the 27th it signed a contract with a Japanese energy developer for an EPC (engineering, procurement and construction) project to build a high-voltage grid-connected energy storage system (ESS) worth about 11 billion won.
The project will build high-voltage ESS installations totaling 10 megawatts (MW) and 40 megawatt-hours (MWh) across five regions in Japan—Oita, Kumamoto, Yamaguchi, Okayama and Mie. Hyosung Heavy Industries will oversee overall system design and supply of key equipment, and after completion will also provide operations and maintenance (O&M) services for up to 20 years.
The order marks a result achieved by Hyosung Heavy Industries in its first year entering Japan's ESS market. In February, Hyosung Heavy Industries won a special high-voltage (228 MWh) ESS EPC project worth about 53 billion won with a capacity of 48.5 MW in Shiranuka, Hokkaido, Japan. The company's cumulative orders in Japan in the first half of this year total about 64 billion won, the largest among Korean power equipment manufacturers.
A Hyosung Heavy Industries official said, "Japan is considered a market with high entry barriers because power frequencies vary by region and grid-connection standards are strict, but Hyosung Heavy Industries has proven its ability to execute projects across all Japanese grid environments," adding, "leveraging entry into the Japanese market, where material safety and standards are stringent, we plan to expand global ESS references and strengthen overseas ESS business, focusing on countries expanding renewable energy."