|Korea Electric Power Corporation CEO Cho Hwan-eik (third from right) poses with related officials after the MOU signing. Kepco|
“This MOU signing will be the basis upon which Kepco will advance into the US’ behind-the-market as well as a turning point for the new industry of electric energy,” said Cho Hwan-eik, CEO of Korea Electric Power Corporation.
The signing took place in California and was attended by Cho, Sunverge CEO Kenneth Munson, a Kokam official along with the Los Angeles Department of Water and Power and National Grid UK.
The US ESS market grew over two-fold to $430 million last year from $280 million in 2015, Munson said.
It is expected to expand 37 percent annually to some $2.8 billion by 2021.
By Kim Bo-gyung(firstname.lastname@example.org)