Hyosung Chairman Cho Hyun-Joon Leads Next-gen Power Tech with World's Largest STATCOM
Completes installation of world’s single largest 400-Mvar (megavar) STATCOM
Chairman Cho Hyun-Joon “We will explore overseas markets more quickly with the only Korean technology to commercialize STATCOM”
Hyosung Heavy Industries held a ceremony to mark the completion of installation of a 400-Mvar STATCOM (Static Synchronous Compensator) in each of the Shinyoungju and Shinchungju substations of Korea Electric Power Corp. (KEPCO). The ceremony was held at the Shinyoungju substations with participation of Hyosung and KEPCO officials including Kim Sang-Jun, Vice President of KEPCO (Sixth from left) and Song Won-Pyo, Senior Vice President of Hyosung Heavy Industries (Fifth from left).
Hyosung Heavy Industries applied its own MMC (Modular Multi-level Converter) technology to the STATCOMs to actualize a large capacity and a low loss.
STATCOM is a device to ensure a stable supply of electric power by maintaining a steady voltage to transmit power more efficiently.
The direction of electric current changes constantly as electricity goes from power plants to each household.
In this process, reactive power is generated. It actually transfers no net energy even as electric current flows.
STATCOM enables the same line to transmit more electrical power by controlling wattles power effectively to raise transmission efficiency.
The STATCOMs installed this time improves transmission efficiency by about 10 percent in comparison with transmission through existing lines, brightening the outlook for a more stable supply of electric power to the capital area.
“Hyosung is the only company in Korea to possess technology to commercialize STATCOMs,” Hyosung Chairman Cho Hyun-Joon said, “If we succeed in completing our HVDC* system verification project currently going on jointly with KEPCO, we will be able to strengthen our leading position in the next-generation power technology. This will allow us to boost our efforts to explore overseas markets.”
Hyosung plans to install two additional large-capacity STATCOMs in the Donghae and Shinbupyeong substations of KEPCO by 2019.
Cho plans to expand business through quality innovation and step up marketing in the US, Saudi Arabia and Europe.
He will ramp up business around renewable energy, involving ESS, STATCOM and HVDC, to grow Hyosung Heavy Industries into a global provider of total power energy solutions.
* HVDC (High voltage direct current): A high-voltage, direct current (HVDC) electric power transmission system transmits electrical power by turning alternating current produced at power stations into high-voltage, direct current. HVDC systems suffer lower electrical losses than prevalent AC transmission systems.
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