Korea Southern Power Co. announced on the 3rd
Korea Southern Power Co. announced on the 3rd that it has begun construction of the central contract market-type battery-type cycle
The capacity will be split between 500MW of large-scale BESS on the Korean mainland and 40MW of the technology on Jeju Island, a popular destination for domestic and international tourists.
BESS permits battery recharging during periods of low demand or extra grid supply capacity. BESS provides three principal operational functionalities which include power grid stabilization during supply disruptions, control of energy supply variations, and integration of intermittent renewable generation from wind and solar resources.
Looking ahead, the market is expected to grow at a CAGR of approximately 14.3% from 2025 to 2033, reaching a projected value of US$ 194.8 Billion by 2033. The BESS market is experiencing significant growth driven by multiple factors.
Strengthening the domestic BESS landscape not only supports internal resilience but also serves as a proving ground for exported technologies. The 2025 tender builds on the government's initial foray into centralized BESS contracts, launched in 2023 with a 65MW, 4-hour project on Jeju Island.
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