Doosan Heavy Industries and Korea Midland Power Join Forces to Pursue 'Entry into Overseas Hydropower Market'

Korea Midland Power and Doosan Heavy Industries & Construction signed a Memorandum of Understanding (MOU) for the joint development of overseas hydropower projects and the supply of domestically produced equipment on the 11th at Doosan Heavy Industries & Construction's headquarters in Changwon.

No Woong-hwan, Head of Business Division at Korea Midland Power (left), and Na Gi-yong, Vice President of Doosan Heavy Industries & Construction

Photo by XXX

[Asia Economy Reporter Ki-min Lee] Doosan Heavy Industries & Construction announced on the 12th that it has signed a Memorandum of Understanding (MOU) with Korea Midland Power to enter the overseas hydropower market.

The signing ceremony held at Doosan Heavy Industries & Construction's Changwon headquarters the day before was attended by No Woong-hwan, Head of Business Division at Korea Midland Power, and Na Gi-yong, Vice President of Doosan Heavy Industries & Construction, among others.

Through this agreement, the two companies agreed to cooperate on "joint development of new overseas hydropower projects," "localization of hydropower equipment and design," and "exploring sales channels for exports."

Korea Midland Power has been operating the 45 MW Wampu Hydropower Plant on Sumatra Island, Indonesia since 2016, and the 55.4 MW Tanggamus Hydropower Plant since 2018. In addition, it is developing multiple hydropower projects in Indonesia.

Doosan Heavy Industries & Construction began its hydropower business in the 1980s and has participated as the main contractor in domestic hydropower plants with a total capacity of 3,100 MW. It also supplies major equipment to overseas hydropower plants in the United States, India, the Philippines, and other countries.

Last month, following the order for the 400 billion KRW Upper Trishuli-1 Hydropower Plant in Nepal, Doosan Heavy Industries & Construction is expanding its business by pursuing participation in hydropower projects in Pakistan as well.

In particular, in September last year, Doosan Heavy Industries & Construction signed a business and technology cooperation agreement with Andritz, a global leader in hydropower based in Austria, establishing a foundation for independent hydropower design technology. It is also jointly promoting the localization of 30 MW-class turbines and generators for hydropower with Korea Hydro & Nuclear Power.

Vice President Na said, "With this agreement, opportunities to participate in domestic and overseas hydropower markets, which have been led by foreign companies, are expected to expand. We will enhance localization in major equipment manufacturing and design and strive to revitalize the domestic hydropower ecosystem." He added, "Together with Korea Midland Power, we will actively target the Southeast Asian hydropower market, which is expected to increase by about 40 GW by 2040."

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