- Selected as Preferred Partner for UN-affiliated GGGI's BKCF Fund Initiative - Plans to develop and establish a PV-ESS based AI microgrid standard model on Bangkalan Island, Indonesia.
SEOUL, South Korea, Aug. 8, 2024 /PRNewswire-PRWeb/ -- Energy AI specialist, Encored Technologies Inc. (CEO Jongwoong Choi, hereafter "Encored") in South Korea, has announced that it has been selected as the preferred negotiation party for the 4th BKCF Fund project competition, organized by the Global Green Growth Institute (GGGI), a UN-affiliated organization.
The BKCF Fund was established to assist green growth in the four BIMP countries (Brunei, Indonesia, Malaysia, and the Philippines). Since 2021, the fund has selected project operators through annual competitions. In the 4th competition, a total of 213 project proposals were submitted from various countries, and nine operators, including Encored, were selected.
In this project, Encored plans to collaborate with the government of Sulawesi Province in central Indonesia to implement a PV-ESS system on Bangkalan Island, which currently relies solely on diesel generators for electricity in its off-grid environment. By leveraging Encored's AI-based Energy Management System (EMS) technology, the project aims to create a microgrid system that optimally integrates with existing diesel generators.
Bangkalan Island, the target location, is a typical example of a community facing issues with limited electricity availability in the evening, carbon emissions, and high operating costs from diesel generators. By leveraging Encored's AI technology to forecast electricity demand and solar power generation, and optimize ESS charging and discharging operations, the project is designed to increase the supply time of electricity and maximize the use of eco-friendly energy. Additionally, when sufficient sunlight is available, the system could operate as a zero-carbon power source without diesel, thereby securing carbon credits.
Indonesia, consisting of approximately 17,000 islands, relies heavily on diesel generators for electricity supply outside the major islands due to the lack of power grid infrastructure. Converting these diesel generators to eco-friendly power sources is crucial for the country to comply with the Paris Agreement. In 2022, the Indonesian government announced the "Diesel Replacement Program," planning to replace about 5,200 diesel generators with renewable energy sources, but implementation has been slow due to funding shortages.
Seyong Lee, Senior Vice President of Encored, who is in charge of this project, stated, "This achievement not only provides a solution to the challenges faced by Indonesia but also all BIMP countries. It is also a recognition of Encored's AI microgrid expertise demonstrated in Hawaii. We hope that the successful execution of the BKCF project will enable Encored to expand its technology to improve energy accessibility and reduce carbon emissions in more overseas island regions."
Media Contact
JEONGMIN KIM, Encored Technologies, Inc., 82 01075107211, [email protected]
SOURCE Encored Technologies, Inc.
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