Ontario utility PowerStream and Korea Electric Power Corporation (KEPCO) have struck a deal to work together on a microgrid demonstration project.
The pair signed a memorandum of understanding September 23 to develop a large-scale model that can be used to advance microgrid and smart grid technologies in utility systems worldwide. The MOU sets the framework for the two utilities to work together.
“We reached out to PowerStream at an industry conference held earlier this year,” said Cho Hwan-Eik, president and CEO of KEPCO, which is South Korea’s only electric utility. “We were intrigued by their microgrid demonstration project and believed that we could further our own efforts in this area by working with what we see as being a forward-thinking company.”
PowerStream, a community-owned utility that serves about 370,000 customers north of Toronto, has built a microgrid demonstration project at its corporate headquarters. The project is meant to replicate microgrid services that might be used in a typical home. (See MicrogridKnowledge.com’s story about the Powerstream project, Microgrids for Neighborhoods? How soon?)
The deal is in keeping with KEPCO’s plan to invest more than $7 billion in its smart grid business by 2030.
“We are thrilled and honored to be working with KEPCO, a recognized global leader in the electricity industry,” said Maurizio Bevilacqua, PowerStream board chair and mayor of the City of Vaughan. “There are tremendous synergies we are able to achieve by working with partners who have the same vision and commitment that we do in furthering the use of innovative technologies to provide additional benefits to customers.”
The agreement was signed by Hwan-Eik and Brian Bentz, PowerStream president and CEO.