Press Release Environmental Technologies
A good Korea move
Investors gather in Seoul for CleanTech Eastern Germany event
Sep 26, 2016
Berlin, Seoul (gtai) - An investor event in Seoul on September 28, hosted by economic development agency Germany Trade & Invest (GTAI), will look for investors for the burgeoning Cleantech Region Eastern Germany. The region and its leading role in Germany’s Energiewende (Energy Transition) has created a multitude of new investment opportunities for foreign investors, not least within the scope of the SINTEG (Smart Energy Showcases - Digital Agenda for the Energy Transition) project, in which Eastern Germany is well-represented.
Along with delegates from Berlin Partner and Saxony’s economic development agency, the WindNODE consortium will also be presenting. Spanning Berlin and all five Eastern states, WindNODE is an integral part of the overall SINTEG project, which aims to digitally network the grid in order to use renewable capacity, power grids and energy consumers with optimal efficiency. Of particular interest is the battery technology and grid technology required to evenly and efficiently distribute remotely-produced wind power to urban centres. “Energy storage and the implementation of so-called ‘intelligent grids’ are central to the subject of the Energiewende,” said Dr. Jürgen Friedrich, CEO of GTAI. “South Korea is one of the leading countries in battery storage technology which, given the requirements of the Energiewende, should create a multitude of business opportunities for Korean companies in Germany.”
Germany’s energy production from renewable sources such as wind and photovoltaic is well-advanced, but the ability to store, evenly distribute and thus compensate for seasonal or meteorological fluctuations will be the solution that ultimately ensures the Energiewende runs its course. “That the strengths of South Korea to the requirements of the energy market in Eastern Germany match is obvious,” continued Dr. Freidrich. “Germany is already South Korea’s most important EU trading partner and the second-most important export market for Germany in Asia. The relationship between the countries is excellent, which should facilitate further trade development.”