Vaughan, Ontario: A Memorandum of Understanding signed September 23 between PowerStream and the Korea Electric Power Corporation (KEPCO), South Korea’s only electric utility, has set the framework for the two companies to work together on a project of mutual benefit.
The MOU, signed by Mr. Brian Bentz, PowerStream President and CEO and Dr. Cho, Hwan-Eik, KEPCO President and CEO, in an official ceremony at PowerStream’s head office, specifically references the use of Micro Grid and Smart Grid technologies with an objective of developing a large-scale application that would serve as a model for further advancement of these technologies in world-wide electricity distribution systems.
Both PowerStream and KEPCO are known for their implementation and use of Smart Grid and Micro Grid technologies within their respective jurisdictions. In 2013, PowerStream built a Micro Grid demonstration project at its head office while KEPCO has committed to invest over $7 billion (US) in its smart grid business by 2030 to make electricity distribution more efficient and decrease Korea’s greenhouse gas emissions.