Doosan Heavy Industries Wins 360 Billion KRW Contract for Gimpo Combined Heat and Power Plant Construction... Completion in 2023

[Asia Economy Reporter Kim Hyewon] Doosan Heavy Industries & Construction has signed a new contract worth 360 billion KRW for the construction of the Gimpo Combined Heat and Power (CHP) Plant. The Gimpo CHP Plant is a project where Doosan Heavy Industries & Construction supplies and demonstrates a large-scale power generation gas turbine, independently developed and successfully localized as the fifth in the world.

On the 22nd, Doosan Heavy Industries & Construction announced that it had signed separate contracts with Korea Western Power for the power block section and the construction work section of the Gimpo CHP Plant. The contract amount is approximately 360 billion KRW. This new order follows the gas turbine supply contract for the same power plant signed with Korea Western Power in December last year.

A combined heat and power plant refers to a power plant equipped with both power generation facilities and heat supply facilities for district heating. The Gimpo CHP Plant first produces electricity using an LNG gas turbine, then utilizes waste heat to drive a steam turbine, producing and supplying electricity and heat once more.

The power block that Doosan Heavy Industries & Construction secured the contract for is a facility equipped with main equipment such as turbines and generators to produce electricity. The power block contract signed by Doosan Heavy Industries & Construction is worth about 230 billion KRW and includes the supply and installation of steam turbines, generators, and HRSG (Heat Recovery Steam Generators) used in the power block. The construction work contract for the power plant, which includes installing transmission lines and industrial water facilities, is worth about 130 billion KRW.

The Gimpo CHP Plant will be located in Yangchon-eup, Gimpo-si, Gyeonggi-do. It is scheduled to be completed in the first half of 2023. It is a 500MW-class power plant using LNG as the heat source and will supply electricity and heat to the surrounding area. This power plant will apply Korea's first independently developed gas turbine model, which Doosan Heavy Industries & Construction began developing as a national project in 2013 and completed final assembly in September last year.

Park Hongwook, Head of Power Service BG at Doosan Heavy Industries & Construction, said, "According to the briefing materials of the 9th Basic Plan for Electricity Supply and Demand recently announced by the government, the domestic natural gas power generation market is expected to expand significantly from 41.3GW in 2020 to 60.6GW in 2034. As the market is expected to expand in earnest, we will strive to grow together by developing the highest performance Korean standard gas combined cycle power generation model based on industry-academia-research cooperation."

Doosan Heavy Industries & Construction is participating in the "Korean Standard Gas Combined Cycle Development Commercialization Promotion Group" launched by the Ministry of Trade, Industry and Energy in February.

This content was produced with the assistance of AI translation services.