SK Gas and SK Eternix announced on Monday that their joint venture, SA Grid Solutions, has commenced commercial operations of its first project in collaboration with Apex Clean Energy, a U.S. renewable energy company.
This milestone comes approximately one year after the decision to establish the joint venture and invest in it was made in January last year. The facility boasts a capacity of 100 megawatts (MW) and is equipped with 34 inverters and 340 batteries.
SA Grid Solutions aims to generate revenue through real-time electricity trading. The company purchases power when prices are low, stores it in energy storage systems (ESS), and sells it when prices surge. Additionally, the company will provide auxiliary services crucial for maintaining grid stability.
Texas, where the first project is located, is experiencing the fastest growth in electricity consumption across the United States. The state is renowned for its high proportion of renewable energy, making it a prime location for ESS business expansion. It is also the most advanced electricity trading market in the country.
SK Gas and SK Eternix plan to expand their ESS operations in the U.S. to approximately 900 MW by 2029. In the long term, they aim to secure a dominant position in the Korean market by leveraging their accumulated expertise once the electricity trading market opens in South Korea.