As part of South Korea’s national smart grid initiative to achieve the vision of ‘Low carbon, Green growth,’ the intelligent renewable energy management system will be installed as a showcase at the Smart Grid Demonstration Complex located on Jeju Island, IBM said.

In addition to Jeju Island, POSCO ICT will also leverage IBM’s consulting capability and business analytics and software solutions to develop a renewable energy management system for use in manufacturing facilities such as steel and chemical plants, new industrial complexes and smarter buildings in Korea.

IBM Korea’s Communications Sector executive director Kim Nam-gyu said that collaborating with POSCO ICT to develop South Korea’s first smart grid system will advance the development of domestic smart grid technology.

In collaboration with IBM, POSCO ICT will adopt IBM business analytics software to build the intelligent renewable energy management system that can enable informed decisions on power generation based on quantitative analysis.

The new system will help establish optimum countermeasures for possible changes in energy supply and demand through a prior scenario analysis.

It can integrate management efficiency initiatives and propose fine-tuned plans for the management of energy, IBM said.

POSCO ICT, formed as a result of the merger of POSDATA and POSCON, offers services in engineering, automation, system integration and IT outsourcing.