- Jeju Test Bed opening, Smart Renewable participation
- Smart Grid Commission launched as a specialized organization

POSCO ICT (CEO Park Han-yong), created through the merger of POSDATA and POSCON last month, is pushing forward with the full-scale launch of the Smart Grid business, selected as a new growth engine item.

POSCO ICT launched the Smart Grid Commission, a specialized organization, and it announced that the company would commence the base technology development on full throttle at the Smart Grid Test Bed opening ceremony in Jeju Woljeong Zone on February 3.

President Park Han-yong of POSCO ICT, Chairman Kim Jae-seop of Korea Smart Grid Commission, and other consortium representatives attended the opening ceremony.

POSCO ICT will be the lead business partner in Jeju Test Bed Project, and it will create a consortium with LG Chemical, RIST, Korea Institute of Energy Research, Daekyung, and Woojin Industrial Systems to carry out the tasks in the Smart Renewable field.

The Test Bed will be used to develop the output stabilization technology and ensure the stable supply of renewable energy sources like wind and solar power with irregular outputs. POSCO ICT also plans to establish the Micro Grid Platform for the energy optimization in rural, urban areas and industry sites and lead the technology standardization effort. It plans to complete the establishment of the Test Bed infrastructure by May 2011, carry out the comprehensive pilot operation for 2 years, and finalize the Test Bed development by 2013.

The technologies developed through the Test Bed will be used as the base technologies for the Green IT Business, including Smart Grid and u-Eco City, to be promoted by POSCO ICT in the future.

POSCO ICT also plans to push forward with businesses targeting POSCO Group subsidiaries and acquire sufficient reference before expanding to the open market to facilitate the timely normalization of the Smart Grid Business. More specifically, it will provide the energy optimization technology and renewable energy distribution technology secured through Jeju Test Bed to POSCO, and then push forward with the open market business in joint collaboration with POSCO Power and POSCO E&C through package deals.

The Smart Grid Test Bed Establishment Project is run under the leadership of the Ministry of Knowledge Economy. It aims to create the world’s biggest, cutting-edge Smart Grid test bed in Jeju to facilitate timely commercialization of related technologies, develop business models, and drive the low-carbon green growth.