Doosan has signed dual contracts with Korea Western Power Co. for the power block installation and plant construction work required at the Gimpo CHP plant. Doosan won these contracts following the gas turbine supplier agreement that it signed with Korea Western Power Co. in December of last year.
The power block contract is valued at about 230 billion won and involves Doosan supplying and installing the steam turbine, generator and heat recovery steam generator (HRSG). The contract for the plant construction work, which includes installing the transmission lines and industrial water treatment systems for the power plant, is valued at approximately 130 billion won.
The Gimpo CHP plant, which is located in the Gyeonggi province, is scheduled to be built by the first half of 2023. The 500 MW LNG-based plant will be supplying district heat and electricity in the region. Doosan will be deploying Korea’s first locally manufactured gas turbine, which it started developing in 2013 as a government-backed project and for which final assembly was completed last September.
“According to the recently released 9th Basic Plan for Electricity Supply & Demand, … 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” commented 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 … Korean standard gas-fired combined cycle power plant model.”