South Korea Busan Low Carbon solar container energy storage system Project

Which CCUS projects are shaping South Korea's industrial decarbonization efforts?

Several major CCUS projects are currently shaping South Korea’s industrial decarbonization efforts: The Donghae CCUS Hub: This offshore storage project will repurpose depleted gas fields to store over 1.2 million tonnes of CO₂ per year by 2028.

Are South Korean companies investing in energy storage systems?

Less than a decade ago, South Korean companies held over half of the global energy storage system (ESS) market with the rushed promise of helping secure a more sustainable energy future. However, a string of ESS-related fires and a lack of infrastructure had dampened investments in this market.

Does South Korea have a decarbonization roadmap?

This tender fits within South Korea’s broader decarbonization roadmap. The country’s 11th Basic Plan for Electricity Supply and Demand, confirmed earlier this year, lays out a vision to expand renewable energy capacity from 30GW in 2023 to nearly 122GW by 2038. Solar is expected to account for over 77GW, while wind installations will approach 41GW.

Why should South Korea deploy long-duration storage?

Deploying long-duration storage will allow Korea to capture surplus renewable energy during these off-peak periods and shift it to peak demand hours, reducing curtailment and maximizing asset utilization. This tender fits within South Korea’s broader decarbonization roadmap.