Power & Industrial Systems PG Supplies 100Mvar STATCOM to Sin-seongnam Substation
The Power Systems PU of the Power & Industrial Systems PG decided to supply 100Mvar STATCOM (Static Synchronous Compensator), a smart grid product, to the Sin-seongnam Substation of Korea Electric Power Corporation (KEPCO). Hyosung is the currently only company producing STATCOM in Korea, and there is a growing demand for STATCOM as stable power supply becomes more important due to the increase in new renewable energy generation. Moreover, its reaction velocity is greater than SVC(Static Var Compensator) that had been mostly used as a reactive power compensator, and the installation area takes up merely 70%. Thus, expectations are high in the power market.
If the STATCOM supply is complete by September, the voltage stability of power systems in Seoul and metropolitan areas will be improved, which will increase power efficiency and supply stable power in sudden fluctuations of demand. This supply will have a positive influence on developing technologies to domestically produce HVDC (High Voltage Direct Current) by increasing the know-how for STATCOM operation.
In particular, according to the 6th Basic Plans for Power Supply and Plans for Long-term Transmission and Distribution Facilities promoted by the government since last year, STATCOM is expected to be applied in transmission and distribution circuits nationwide on a mid- to long-term basis, which will significantly increase the number of orders for our company.
