REDi and ITCEN to collaborate for Seoul Microgrid Project

REDi | 03.27| 503

REDi has formed a strategic partnership with ITCEN Co. to together take part in a landmark Seoul pilot project.

ITCEN Co. is a Korea-based IT services company (publicly listed on KOSDAQ) which has rapidly expanded its business in various areas such as in defense, education, and finance, through various IT-based services.

REDi and ITCEN Co. has been selected by the city of Seoul to engage in a proof of concept (POC) project for an “energy prosumer village” in Seoul. In particular, REDi will be responsible for the implementation of a blockchain-based p2p trading platform and offer its services in the overall energy data management.

The “Seoul Energy Prosumer Village” project, which can be analogous to the 2016 Brooklyn microgrid pilot project, will engage in the development of Seoul’s unique microgrid energy system, by installing solar energy units to 89 Seoul apartments and by implementing a prosumer power trading platform within. Microgrids can be defined as decentralized power networks that are capable of sustaining efficient power production and use in small, localized areas. In addition to sustaining an independent energy network, microgrids can also be linked to existing power grids.

REDi plans to provide a blockchain-based renewable energy data platform for the consolidation and data management of energy data such as solar power generation, consumption, and maintenance history. In regards to the “Seoul energy prosumer village” project, REDi is expected to offer additional support in various areas pertaining to the investments in solar PV components (such as in PV module and inverters), as well as in the installation of solar energy power plants.

With Korea’s own P2P power trading market being initiated early this year, more microgrid projects are expected to follow, considering how Korea is characterized by major cities densely packed by apartments and office buildings.

We hope to update you as we engage in the implementation of Korea’s very own decentralized, microgrid renewable energy systems, in close collaboration with ITCEN Co and the city of Seoul.

ITCEN group includes subsidiaries such as SoftSens, GoodSens, and SecuSens and focuses in the development and application of fourth industry technologies such as big data, cloud applications, blockchain, and FinTech security. This year, the company has plans to launch a blockchain-based online gold trading platform, as well as a fintech-based bio-electronic signature platform services.

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REDi and ITCEN to collaborate for Seoul Microgrid Project was originally published in REDi on Medium, where people are continuing the conversation by highlighting and responding to this story.

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