Seoul - GE Vernova's Gas Power business (NYSE: GEV) today announced it has secured an order from Korea Western Power Co.,Ltd (KOWEPO),a subsidiary of Korea Electric Power Corporation (KEPCO), to provide a GE Vernova 7HA.02 gas turbine and a H65 generator for KOWEPO's power station in Gongju-si, Chungcheongnam-do Republic of Korea.
For the project GE Vernova is part of an international consortium, including the Korean engineering, procurement and construction (EPC) company Daewoo E&C.
KOWEPO's aged coal-fired plant is expected to be replaced with Gongju-si natural gas power generation, expected to reach an output of 500 Megawatts, while enabling future fuel mix combustion of up to 30 percent by volume of hydrogen, subject to the development of a hydrogen manufacturing industry of an appropriate size and scale.
'This power plant will add new capacity, expected to increase power supply security in South Korea while continuing to phase out coal power generation. In addition, it will help expand a more reliable deployment of renewable energy resources in our country as we'll be more capable to dispatch power quickly in response to grid fluctuations,' said a representative from KOWEPO. 'The new power plant will be capable to operate on up to 30% hydrogen by volume, in line with the national goal to deploy renewables and green hydrogen at large scale and achieve carbon neutrality by 2050.'
The new power plant targets to begin operation in 2027. Switching from a coal plant to its gas equivalent can alone reduce carbon emissions by as much 60 percent, and lower emissions levels for other pollutants such as mercury, NOx, SOx and particulate matter, when using one of the most advanced of GE Vernova's HA gas turbines.
'In a country with an increasing power demand due to planned coal-fired power plant retirements, we are proud to support a lower-carbon future in Korea,' said Ramesh Singaram, President and CEO GE Vernova's Gas Power in Asia. 'We are committed to providing KOWEPO with our advanced gas turbine technology to accelerate coal phase-out and support an increase in the share of renewables as we work towards lower-carbon gas-based power generation with hydrogen. Once in operation, Gongju-si power plant is expected to be among the most efficient and flexible power plants in the country.'
GE Vernova is a major player in power generation in South Korea. GE Vernova 's gas turbines (simple and combined cycle) in the country have the capacity to generate more than 14 Gigawatts of electricity with an installed base of over 78 units. The company has been present in South Korea since 1976, working closely with local companies to support the country's growth in the energy sector. In 2015, GE Vernova undertook a large-scale manufacturing plant investment in Changwon, South Korea, by acquiring Doosan's HRSG business.
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Gas Power
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses of Advanced Research, Consulting Services, and Financial Services. Building on over 130 years of experience tackling the world's challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 80,000 employees across 140+ countries around the world. GE Vernova's Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future.
GE Vernova's mission is embedded in its name - it retains its legacy, 'GE,' as an enduring and hard-earned badge of quality and ingenuity. 'Ver' / 'verde' signal Earth's verdant and lush ecosystems. 'Nova,' from the Latin 'novus,' nods to a new, innovative era of lower carbon energy. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.
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