|Both companies collaborate to explore ways to activate energy solutions.
Eliminating on-site risks by strengthening surveillance and control solutions
| Leveraging EcoStruxure Power and Building 2.0 Solutions

Schneider Electric announced on the 8th that it signed a business agreement with Hyundai Electric to promote energy solutions business at the Schneider Electric Korea branch in Mapo, Seoul on the 8th.

The signing ceremony was attended by Schneider Electric CEO Kim Kyung-rok, General Manager Kim Jin-seon, and Hyundai Electric General Manager Cho Yong-un and Director Heo Won-beom.

The two companies plan to cooperate to expand the energy solution market, including the energy service business and factory and building energy management systems (FEMS and BEMS). Hyundai Electric will be responsible for market development and solution provision, while Schneider Electric will provide equipment and technical support necessary for the energy solution business.

Energy solutions mean building systems to efficiently use electric power through integrated management and providing long-term operation strategies.

The energy solutions business supports and manages efficient energy operations in response to the changing structure of the power industry due to the emergence of various energy sources, including renewable energy, and distributed generation.

Hyundai Electric is fostering the energy solutions business as one of the business areas of its ICT platform brand, INTIGRIC. As evidence of this, the company is strengthening its position in the field by carrying out various projects in the energy solution field, such as establishing a Building Energy Management System (BEMS) at the Gangneung Seamark Hotel, establishing a Factory Energy Management System (FEMS) at Hyundai Heavy Industries’ Ulsan headquarters, and promoting a domestic public-private partnership renewable energy-linked ESS project.

Through this business agreement, Schneider Electric is expected to improve the reliability of Hyundai Electric's power system operation through its 'EcoStruxure Power & Building 2.0' solution, which includes event analysis capabilities and data analysis capabilities encompassing all devices and integrated information.

“Through this collaboration, we expect to maximize synergy between our two companies in the energy solutions sector based on our EPC capabilities, which we have accumulated through our experience in large-scale energy solution businesses alongside Schneider Electric’s products,” said Yong-Woon Cho, Head of Hyundai Electric. “In the future, we plan to focus on enhancing our status as a comprehensive energy solutions provider by expanding our portfolio into various energy solution fields, such as fuel cells, DC distribution networks, microgrids, and virtual power plants (VPP) construction.”

“Today, every company is striving to improve efficiency and uptime while reducing risk through compliance with the latest standards and regulations,” said Kyung-Rok Kim, CEO of Schneider Electric. “Schneider Electric will strive to complement and strengthen the performance of Hyundai Electric’s energy solutions by providing IoT products and EcoStruxure Power, a digital power management architecture, and building systems.”