A virtual power plant (VPP) system was designed to integrate various medium-scale power generating units such as solar and wind power and manage them in a single power plant using information and communication technologies (ICT). A VPP can reduce the load on existing electricity grids during peak load times. It can also power a nearby area.
Ulsan was selected by the Ministry of Trade, Industry and Energy to invest three billion won ($2.6) to build a virtual solar power plant through collaboration with companies and organizations including state power company Korea East-West Power. The alliance formed in April 2020 has cooperated to build the rooftop VPP facility.
Ulsan said in a statement on September 10 that the VPP will be managed by power companies and profits will be distributed back to local citizens. "This power-generating project encourages the participation of the local community. It has a great meaning as citizens and special organizations cooperate for the expansion of energy distribution and the creation of a local power generation market," an unnamed Ulsan official was quoted as saying.
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