LG Group is using all of its key subsidiaries’ technical resources to gain an edge in solar power in an effort to secure a new growth business, the group said.
Korea’s fourth-largest conglomerate has mobilized its flagship companies including LG Electronics, LG Chem and LG Uplus for the development of efficient solar power modules and solutions.
This move is similar to when the group, spearheaded by chairman Koo Bon-moo, aggressively started pooling resources from its key companies and suppliers to introduce the Optimus G smartphone two years ago.
The rooftop solar power system at LG Chem’s Ochang plant, North Chungcheong Province. (LG Group)
LG Electronics, LG Chem, LG Display and LG Innotek were involved in the process of creating the smartphone as part of efforts to regain its former feature phone-era glories.
LG Group is using the same strategy for solar power, an alternative energy that could offset growing electricity shortages, especially during the summer, amid safety concerns over nuclear power, it said.
LG Electronics has provided its technical expertise in modules, LG Chem in energy storage systems, LG Uplus in power conversion systems and LG CNS in energy management systems for solar power.
The group will first aim to set up solar power modules and operational systems on rooftops of 19 industrial facilities of LG Electronics, LG Display, LG Innotek, LG Household & Care and LG Hausys across the country by the end of this year.
The 19 rooftop solar plants will each have a capacity to produce 19 megawatts of electricity.
It will be using some 70,000 modules for rooftop solar power plants sized at 231,000 square meters, equivalent to 32 soccer fields, the group noted.
It began the grand-scale project by building the rooftop plant at LG Display’s facility in Paju, Gyeonggi Province, this month, while LG Chem aims to build energy storage systems using its renewable battery technology at two of its regional factories by the end of the first half of this year.
LG Chem’s ESS at its factories in Iksan, North Jeolla Province, and Ochang, North Chungcheong Province, will have a total capacity of 30 megawatt-hours of electricity as soon as they go into effect in July this year.
The group will distribute power via the Korea Power Exchange to regional cities such as Paju, Gumi and Ulsan, with hopes of contributing to the country’s energy-saving efforts in the near future.
By Park Hyong-ki (
hkp@heraldcorp.com)