Korea Western Power and Doosan Heavy Industries held a "Next-Generation Korean Hybrid Construction Cooperation Agreement Ceremony" on the 13th. Jeong Yeon-in, President of Doosan Heavy Industries (right), and Kim Byung-sook, President of Korea Western Power, are taking a commemorative photo after signing the agreement.
[Asia Economy Reporter Ki-min Lee] Doosan Heavy Industries & Construction announced on the 13th that it has signed a Memorandum of Understanding (MOU) with Korea Western Power for cooperation in establishing the next-generation Korean-type combined power plant.
About 30 officials from both companies attended the signing ceremony, including Kim Byung-sook, President of Korea Western Power, and Jung Yeon-in, President of Doosan Heavy Industries & Construction.
Through this agreement, Korea Western Power and Doosan Heavy Industries & Construction will mutually cooperate to develop a competitive Korean-type combined model in the domestic and international combined cycle power market in the mid to long term, and to pioneer overseas markets for the next-generation Korean-type combined model by utilizing overseas business networks.
They also plan to join forces to foster the domestic gas turbine industry ecosystem by supporting the development of domestic equipment technology for small and medium-sized enterprises related to gas turbines and actively cooperating to secure domestic and international market channels.
Doosan Heavy Industries & Construction signed a gas turbine supply contract with Korea Western Power for the Gimpo Combined Heat and Power Plant in December last year and is currently conducting a demonstration process for the independently developed large gas turbine for power generation. Korea Western Power will provide operational and technical information obtained through the demonstration to Doosan Heavy Industries & Construction to help the next-generation Korean-type combined model successfully enter the market.
According to the briefing materials of the recently announced 9th Basic Plan for Electricity Supply and Demand, among the 30 coal-fired power plants to be phased out, 24 will be converted to natural gas power generation. Including this, domestic natural gas power generation is expected to increase significantly from 41.3GW in 2020 to 60.6GW in 2034.
Jung Yeon-in, President of Doosan Heavy Industries & Construction, said, “The determination of Korea Western Power to foster the domestic gas turbine industry and the efforts of Doosan Heavy Industries & Construction will produce more tangible results through this agreement. We will also contribute to revitalizing the gas turbine industry ecosystem by establishing a virtuous cycle of co-growth with domestic partners.”
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