KEPCO and SPC Kepco Solar Sign MOU to Provide
AI-Based Solar Power Generation Forecasting
Technology for Participation in Power Exchange
Renewable Energy Generation Forecasting System


Korea Electric Power Corporation announced on the 27th that it will provide Kepco Solar with 'solar power generation forecasting technology' independently developed by KEPCO's Data Science Research Institute, enabling Kepco Solar to participate in the 'Power Exchange Renewable Energy Generation Forecasting System.' KEPCO's AI-based solar power generation forecasting technology analyzes solar power plant generation performance and meteorological observation data using deep learning techniques to derive algorithms, and forecasts power generation when weather forecast data is input.

To verify business feasibility, KEPCO analyzed generation information from Kepco Solar's 152 solar power plants (9.3MW) and achieved power generation forecasting accuracy of 95% or higher based on the forecasting system standard for the month of July. KEPCO organized a task force with its Data Science Research Institute and Power Research Institute starting in December of last year to commence development of renewable energy generation forecasting algorithms. After algorithm development in March of this year, KEPCO has since refined the algorithm targeting 298MW demonstration sites.

Solar power generation forecasting technology is expected to enable efficient power grid operation by reducing additional generator startup/shutdown costs and power adjustment costs resulting from renewable energy variability.

KEPCO and Kepco Solar signed a 'Memorandum of Understanding for Technical Support for Solar Power Plant Generation Forecasting and Business Cooperation for Participation in the Power Exchange Forecasting System' at Kepco Solar's headquarters to utilize this technology and participate in the forecasting system. Through this agreement, KEPCO will provide solar power generation forecasting technology to Kepco Solar, and Kepco Solar will apply it to its power plant operation system to participate in the Power Exchange forecasting system introduced for stable grid operation.

Meanwhile, Kepco Solar is a special purpose company (SPC) established in 2016 by KEPCO and six power generation subsidiaries to invest in solar power generation facility installation and for power production and business operations. Currently, it is installing and operating 62MW of solar power across approximately 250 schools and public sites nationwide.