BHI Wins Nearly 520 Billion KRW Energy Equipment Order for the Philippines

BH Energy Industries (BHI) has recently achieved an order volume exceeding its market capitalization with just two new contracts, including a recent deal in Saudi Arabia.

On April 28, BHI announced that it had signed a contract with the Philippine power company San Miguel Global Power Holdings (hereinafter referred to as SMC Global) to supply circulating fluidized bed combustion (CFBC) boilers worth approximately 520 billion KRW. This amount is equivalent to 127.9% of BHI's recent sales. The contract period runs until September 30, 2028.

BHI is set to supply a variety of equipment, including its core product, boilers, as well as economizers, reheaters, casings, ducts, and enclosures. The company explained that this achievement resulted from its advanced technology and the experience and know-how accumulated through numerous EPC (engineering, procurement, and construction) projects.

Building on this success, BHI plans to accelerate its efforts to penetrate the Philippine CFBC boiler market. CFBC boilers are environmentally friendly thermal power generation facilities compared to conventional pulverized coal (PC) boilers. They offer a wider range of fuel options and can combust additives such as limestone together with fuel, significantly reducing emissions of pollutants such as nitrogen oxides and sulfur oxides. In addition, they are highly compatible with carbon-free fuels, such as ammonia.

CFBC boilers are characterized by both excellent economic efficiency and eco-friendliness, leading to steadily increasing demand in the Philippines. Currently, more than 15 large-scale CFBC boiler construction projects, totaling about 6,000MW, are planned in the country. BHI intends to actively pursue orders for both large-scale and small-scale CFBC projects. In particular, for small-scale projects, the company is considering directly handling the EPC segment as well.

A BHI representative stated, "This contract covers all areas of boilers and related sectors, and once again demonstrates our outstanding technological capabilities and business competence in the global market. We will do our utmost to leverage this achievement to secure various projects that will be carried out in the Philippines."