Mitsubishi Electric develops SVC-Diamond Static Synchronous Compensator
Mitsubishi Electric announced today its development of the SVC-Diamond static synchronous compensator (STATCOM), a voltage source converter (VSC) shunt reactive power compensator with a modular multilevel converter (MMC). The new SVC-Diamond helps strengthen the power network when renewable energy resources such as solar and wind are introduced. Since renewable energy is derived from natural sources, any solution is required to solve power-quality issues, such as voltage variation and voltage transmission stability. SVC-Diamond as a reactive power compensator deploys the most effective method for responding to such issues.
Mitsubishi Electric will perform the precise system studies matched to user needs to provide optimum solutions and maximum quality based on real-time simulations. Mitsubishi Electric’s dynamic reactive power compensation capability is expected to realize optimum solutions that respond to the need for improved power quality. The market scale is expected to reach US$ 2 billion level in 2018 with annual 5% growth rate. The commercial launch of SVC-Diamond static synchronous compensator is targeted sometime in or after 2016.