Electric Power Research Institute (EPRI) CEO Arshad Mansoor gives an opening speech at the BIXPO 2022 held at Kimdaejung Convention Center, Wednesday. Courtesy of KEPCO

By Lee Kyung-min

Over 4,000 energy authorities and business executives from around the world gathered in Gwangju, south of Seoul, Wednesday, to share their insights into advancing carbon neutrality initiatives at an annual international conference, according to Korea Electric Power Corp. (KEPCO), the event organizer.

Officials of 233 local and global energy firms attended the BIXPO 2022 held at Kimdaejung Convention Center, where academic discussions and new energy technologies demonstrations will continue through Friday.

KEPCO seeks to elevate the annual conference to a global must-visit event, as underpinned by compelling storytelling whereby attendees are able to understand and experience the inner workings and growth potential of energy value chain operations.

Energy projects are equally prioritized regardless of commercial viability as green initiatives that can engage the entire process encompassing energy sources procurement, production and consumption, all in the context of sustainability and safety.

Among in attendance were Korea's Hyundai Electric, LS Cable & System, Hyosung Heavy Industries ― the three energy and power generation affiliates of Hyundai Group, LS Group and Hyosung Group, respectively.

Their global peers included Hitachi, a Japanese multinational conglomerate, Oracle, an American multinational computer tech firm, and 3M, an American multinational conglomerate, as well as 40 energy startups.

The annual conference had 43 sessions, including 35 professional technology conferences, on the topics of production, transport, consumption, policymaking, safety and security.

Among the sub-sections were the Energy Leaders' Summit (ELS), an international event KEPCO seeks to elevate to the level of the World Economic Forum for the power energy industry, whereby CEOs of local and foreign energy firms, experts from research institutes and professors can share and advance discussions for the better future of the energy market.

The challenge of maintaining security and economic efficiency will be overcome, as lifted by more efficient power grid plans, investments, innovative technologies and policy assistance, according to participants.

The KEPCO R&D Master Plan will show details on ways to bolster the energy transition, expansion of new renewables and establishment of a smart power grid.

Arshad Mansoor, CEO of Electric Power Research Institute (EPRI), a U.S. research organization, gave a speech under the theme of "A Climate Ready Power System ― Resilient and Affordable Decarbonization" at the opening ceremony.

The priority of the future energy system should be, he said, making energy cleaner, more affordable and reliable, as enhanced by the continued commitment towards a gradual transition to low-carbon resources, including biofuels and biogas.

Power system modernization, smart technology-enabled advanced analytics, upgraded infrastructure and overall control systems will help advance digitization.

Enhanced resilience of the energy system will in turn fortify the reliability of power generation, as reinforced by advanced asset design, strategic undergrounding and closer integration of energy carriers.

The objectives will help Korea achieve net zero by 2050, as buttressed by efficient electrification and efficiency in buildings, industry and transportation.

Low-carbon energy carriers are set to decarbonize hard-to-electrify sectors and ultimately limit dependence on imported fossil fuels.

Mansoor expressed appreciation for KEPCO's excellent collaboration with world organizations towards clean transition, as best encapsulated by a proverb in Africa:

"If you want to move fast, go alone. If you want to move far, together," he said during an interview at BIXPO with a group of reporters.

The sentiment highlights the importance of global cooperation to achieve carbon neutrality, a global drive emerging increasingly as a key leadership quality, especially since many developed countries express frustration over the recent anti-coal mandate. The cheaper and easier-to-use energy source was the key driver of rapid growth for most advanced nations, including the U.S., Europe and Korea.

Korea should, he added, expand the use and technological development of small modular reactors (SMRs), as part of the government initiative to put greater emphasis on nuclear power as an energy source.

"Nuclear energy should be as permanent as solar and wind power," he said. "We cannot take any technology off the table."

The U.S. state of Texas, for example, can produce the highest wind and solar power of 20 gigawatts to 30 gigawatts of power, but there are also days when it can generate none. This is where, he said, the balancing of resources is key, mostly using technologies to convert wind and solar power to hydro energy.

"Coal will be gradually replaced by hydro and battery-mediated power and other eco-friendly tech. But in the meantime we have to use a balanced way of using energy. The future of the energy market is not fuel-intensive but material-intensive," he said.