IBM, POSCO ICT to develop renewable energy management system for smart grid

(ADPnews) - Nov 5, 2010 - IBM (NYSE: IBM) said yesterday it will collaborate with POSCO ICT to develop South Korea's first renewable energy management system for a smart grid.

The system will be showcased at the Smart Grid Demonstration Complex located on Jeju Island. It will be able to forecast the electricity demand to ensure efficient and accurate production of electricity.

IBM will provide products for integrating data across systems to ensure optimised interconnections of the new system with external systems. The project is expected to be completed in December.

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.

POSCO ICT, specialised in engineering, automation, system integration and IT outsourcing, also plans to create a standard for energy management that recognizses that limited resources must be used efficiently, and manage the optimised energy efficiently.

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