Hyundai Motor to Build LNG Power Plant at Ulsan Factory... Direct Electricity Production

[Asia Economy Reporter Changhwan Lee] Hyundai Motor Company is promoting the construction of a liquefied natural gas (LNG) combined heat and power (CHP) plant at its Ulsan plant to produce electricity independently.

According to related industries on the 8th, the Buk-gu Office of Ulsan City received Hyundai Motor's business plan and announced the related details on its website last month.

This is the first time Hyundai Motor is building a large-scale power generation facility within its plant. The construction period for the power plant is scheduled from 2022 to 2025, with operations planned to start in 2025.

Currently, the Ulsan plant's electricity demand is 1.29 million megawatt-hours (MWh) annually, and the steam demand is approximately 710,000 tons per year.

Hyundai Motor plans to build a 184 MW-class power plant to produce 72% of the electricity it previously received from Korea Electric Power Corporation (KEPCO) on its own. The scale of steam production that can be replaced is about 59% of the existing steam volume.

Hyundai Motor explained, "In line with the government's energy policy, we aim to reduce greenhouse gas emissions by improving the efficiency of existing power and steam production, and to introduce self-use combined heat and power facilities that apply eco-friendly LNG fuel, enhance the stability of utility demand and supply, and secure economic feasibility."

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