containerized BESS project financing options in Korea 2030

What does the Bess tender mean for Korea?

The tender builds on the government’s initial foray into centralized BESS contracts, launched in with a 65MW, 4-hour project on Jeju Island. That project represented a turning point, establishing a new model for how low-carbon resources can be procured and integrated into Korea’s power system.

What is the global Bess capacity in ?

As per the International Energy Agency (IEA), global BESS capacity was 85 GW (approximately 190 GWh) at the end of and is expected to reach 400 GW (over 1,200 GWh) by to enable the seamless grid integration of renewable energy, with the net zero emissions scenario as a target.

Why do we need a Bess contract in ?

Strengthening the domestic BESS landscape not only supports internal resilience but also serves as a proving ground for exported technologies. The tender builds on the government’s initial foray into centralized BESS contracts, launched in with a 65MW, 4-hour project on Jeju Island.

Can a Bess project be issued as a green bond?

Independent BESS projects can be bundled together and issued as green bonds to potential large investors. A partial credit guarantee can be provided by public capital providers to improve the credit ratings of green bonds, which is necessary to attract these low-risk-seeking investors.

Is blended financing a viable financial model for Bess projects?

As per McKinsey & Company, the market size of the BESS ecosystem is expected to reach $150 billion by . Thus, blended financing as a financial model should be considered, where public capital can be used as a first-loss capital for BESS projects. This offers private financers the comfort of providing capital at a competitive rate.

How long will a Bess project take?

The forthcoming tender will allow for BESS project bids of 4-hour to 6-hour duration, equating to up to 3,000MWh of storage capacity for the mainland and 240MWh on Jeju Island.

BESS 프로젝트 개발 투자 및 금융

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Battery Energy Storage Systems in Korea and Germany

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Korea Southern Power Co. announced on the 3rd that

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South Korea Battery Energy Storage System Industry to Grow

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