Doosan Heavy Industries and Construction will handle the power block installation and plant building work for a new combined heat & power (CHP) generating station in South Korea.
DHI this week signed contracts with Korea Western Power Co. for the work at the Gimbo CHP plant in Gyeonggi Province. The 500-MW LNG-based power plant will deploy DHI’s new turbine, the first manufactured in Korea, according to the company.
The Gimbo plant will produce electricity and steam used for district heating.
“According to the recently released 9th Basic Plan for Electricity Supply & Demand, it is forecast that Korea’s natural gas market will grow explosively from the current market size of 41.3 GW in 2020 to 60.6 GW by 2034” said Hongook Park, CEO of Doosan Heavy’s Power Service Business Group. He added, “Given that a huge market growth is expected, we aim to further promote our company’s growth by leveraging our industry-academia-research alliances to effectively develop a top-notch Korean standard gas-fired combined cycle power plant model.”
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The power block contract that Doosan won is valued to be about 230 billion won ($190 million U.S.) and involves Doosan supplying and installing the components that form a power block, such as the steam turbine, generator and heat recovery steam generator (HRSG). The contract for the plant construction work, which involves installing components like the transmission lines and industrial water treatment systems for the power plant, is valued to be approximately 130 billion won ($108 million U.S.).
Doosan recently won these contracts following after the gas turbine supplier agreement that it had signed with Korea Western Power Co. in December of last year.
The company has been developing its own gas turbine since 2013, as part of a government backed project. Final assembly was completed in September 2019.
If successful and expanded to other global power markets, Doosan could join Siemens, GE, Mitsubishi and Ansaldo Energia among the world’s gas turbine manufacturers.
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