REC’s Innovation is taking on the global market with its comprehensive energy business model that covers everything from power plant EPC (engineering, procurement, and construction) to energy trading and carbon emission credits.
REC’s Innovation has expanded its energy trading and monetization business based on data it has secured from directly constructing and operating renewable power plants (small hydro, solar power, etc.). CEO IM JEONG MIN said, “REC’s Innovation isn't merely a system provider. Rather, it has constructed a unique business model whereby the data gained through directly constructing and operating power plants is linked to energy brokerage and carbon emission credit trading,” and added, “The reliability and sustainability of this model have been proven through demonstration projects at home and abroad.”
Domestically, the company was selected for the Korea Energy Agency's ‘Future Energy Ecosystem Activation Project’ in Yeongam-gun, Jeollanam-do, where it conducted demonstrations. It is now expanding its sales channels to public institutions and local governments. Internationally, the company completed a feasibility study on small hydro power plant construction in Kyrgyzstan through a preliminary feasibility study support project of the Korea Energy Agency.
It is currently demonstrating a torque control technology for responding to flow rate fluctuations in small hydro power plants through the ‘Overseas Field Demonstration of Green Technology Project’ of the Korea Environmental Industry & Technology Institute. With this as a bridgehead, it is now seeking to advance into other Central Asian countries, such as Uzbekistan and Kazakhstan, as well as the ASEAN market. Meanwhile, for KOICA projects, the company is preparing to participate in the CTS and the IBS-ESG Initiative, and is jointly pursuing IBS projects with Wangsan Electric.
It is also strengthening its carbon emission credit business in line with carbon neutrality trends. In particular, the company is expecting significant results from its overseas projects involving small hydro power plants. By operating power plants directly, obtaining certification for the carbon reduction effects generated thereby, and linking this with trading, the company has created a structure that allows it to generate additional revenue streams through the construction and operation of renewable energy power plants.
It has also been seeing good results on the investment side. In 2024, it attracted KRW 30 million in investments in the seed stage, and in 2025, KRW 100 million in the pre-A stage. As to future plans, the company is focusing on attracting impact investment to participate in the global TIPS program and projects of the IBS-ESG Initiative.
Established in 2021, REC’s Innovation has recorded significant results in a short period, including the performance of in-house EPC for small hydro and solar power plants, the verification of distributed resource operations in the Yeongam-gun demonstration project, and overseas demonstration projects in collaboration with the Korea Environmental Industry & Technology Institute. In addition, the company has completed ISO 9001, 14001, and 45001 certification in 2025, and has acquired GS Level 1 certification. CEO IM clarified the company's ambitions, saying, “We will establish a model that links energy trading and the monetization of carbon emission credits to the construction and operation of power plants,” and added, “Korean energy solutions will gain a foothold in the global market through expansion in the Central Asia and ASEAN regions.”
Located in the Naju Innovation Cluster, REC’s Innovation has grown rapidly through various support measures. It is making the lead into a next-generation comprehensive energy company through its unique model covering EPC, energy trading, and carbon emission credits.
Date of Establishment: July 2021
Main Business: Development and operation of a comprehensive energy value chain platform (VPP-EQ), EPC and operation for renewable energy power plants, ESS-based energy brokerage and DR optimization solution, on-site renewable energy microgrid construction, and ODA projects overseas
Performance: KEPCO SCADA-based EMS technology transfer and commercializtion; acquired VPP-EQ, GS Level 1 certification (KTR) for a platform developed in-house; KEPCO Trusted Partner certification (in recognition of AI-based abnormal symptom detection technology); filed a patent for self-DR-based AI and ESS optimization; led a demonstration in Yeongam-gun, Jeollanam-do, for the ‘Future Regional Energy Ecosystem Activation Project’ of the Korea Energy Agency; demonstrated microgrid EMS-VPP integrated control of distributed renewable energy sources in Yeongam County; currently demonstrating supply-side ESS–demand-side ESS interconnection and DR optimization operatios; developed a public VPP demonstration model and moving forward with SaaS platform commercialization; signed MOUs for 4 small hydropower plants and a solar power plant in Kyrgyzstan, with demonstration underway; established a local subsidiary (Bishkek) and moved forward with the construction of a 4MW-class microgrid based on small hydropower; conducted overseas demonstration projects in collaboration with the Ministry of Environment, KEITI, and KOICA; fully implemented the KOICA IBS (4-year) project and making efforts to attract investment based on public-private matching funds; attracted AC investmenr in the seed stage (2024); attracted strategic investment (over KRW 300 million in 2024) from Wangsan Electric (EcoPro Group affiliate); selected as a ‘2024 Excellent Venture Company’ in the regional category by the Korea Venture Business Association; pursuing excellent product designation from the Public Procurement Service and preparing to enter the public procurement market; continuing demonstration and technology development to secure NEP (New Product certification) and NET (New Technology certification); establishing an inclusive business model based on BOP (Base of the Pyramid) and formulating local expansion strategies; responding to climate change through the efficient utilization of domestic and international renewable energy resources, expanding into the Central Asian and ASEAN markets based on the Korean VPP/EMS platform model
reporter jinho lee
jinho2323@hankyung.com
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