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OCI is accelerating its expansion into the distributed energy market.
OCI announced on the 10th that its subsidiary, OCI Power, will launch a demonstration project using repurposed electric vehicle batteries from Hyundai Motor Group in an Energy Storage System (ESS) for solar power generation.
OCI Power installed an Energy Storage System (ESS) using Hyundai Motor Group’s 300kWh-class repurposed EV batteries at a 727kW solar power plant located at OCI Specialty’s Gongju plant.
After conducting performance tests on Hyundai Motor Group’s repurposed EV batteries, OCI Power completed installation of the ESS in compliance with the latest technical standards through tests involving integration with the Power Conditioning System (PCS), as well as charging and discharging, temperature, and functional testing of the containerized ESS Cube.
Based on this, OCI Power plans to conduct a comparative performance analysis between the previously installed ESS using new batteries from another manufacturer and the ESS using Hyundai Motor Group’s repurposed EV batteries.
In September 2019, the two companies agreed to establish a comprehensive cooperation framework to develop business models integrating ESS and solar power generation using repurposed EV batteries, while jointly developing distributed energy markets in Korea and North America.
To this end, OCI Power agreed to establish demonstration sites in Gongju, Korea, and in Texas, United States, where OCI Solar Power is located, and to undertake the supply and installation of Power Conditioning Systems (PCS) and operating systems.
Hyundai Motor Group will provide the repurposed EV batteries and be responsible for their maintenance, while the two companies will jointly verify the commercial feasibility of the system through operation and demonstration analysis of the integrated system. The installation of an ESS using Hyundai Motor Group’s repurposed EV batteries at this solar power plant represents the first outcome of the partnership.
Heo Ki-moo, President of OCI Power, said, “We are pleased to pursue the development of innovative business models by combining OCI’s extensive experience and expertise accumulated through many years in the solar business with the strengths of Hyundai Motor Group.” He added, “By applying ESS using repurposed EV batteries to the rapidly growing distributed energy market, we will continue strengthening our solar power generation and energy businesses.”
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