News
DL E&C won an order for biomass power plant project worth KRW250 billion.
DATE 2023.10.24
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DL E&C won an order for biomass power plant project worth KRW250 billion.
Panoramic view of the construction site for the TW Biomass Energy Combined Heat and Power Plant
-New construction after demolishing the old power plant in Yeosu LG Chem Hwachi Complex
-Recorded KRW3.1 trillion in new orders for plant, counting down to achieving goal
-Recognized for its experience in construction of biomass power plant, additional winning orders is expected
DL E&C announced on the 24th that it had won an order for the construction of the TW Biomass Energy combined heat and power plant in the Hwachi Complex in Yeosu. The total amount of winning orders is approximately KRW250 billion. DL E&C will be responsible for design, equipment procurement and construction, as well as commissioning, and aims to complete the project by the end of November 2026.
DL E&C is continuing to actively win orders in the plant sector this year. It won orders for two power plant projects in succession this month alone, worth a total of KRW650 billion, having achieved to win orders worth about KRW3.1 trillion to date. The target for winning orders presented at the beginning of this year was KRW3.5 trillion, and expectations for achieving the target are rising.
This project is for the construction of TW Biomass Energy Power Plant, a joint venture between LG Chem and GS EPS. The power plant will generate steam (heat source) and electricity required for LG Chem’s Hwachi plant in Yeosu. The power generation capacity is 25MW, and can produce 225 tons of heat source per hour.
Biomass power plant uses waste wood, which is previously incinerated or landfilled, in the form of wood chips as raw materials. Because it utilizes waste resources that are difficult to recycle, it is evaluated as a carbon-neutral energy source both in Korea and European Union (EU). The biomass power plant in Hwachi, Yeosu is expected to reduce carbon emissions by 400,000 tons per year, compared to conventional power plants.
DL E&C won an order for this project in recognition of its experience and knowhow in the successful construction of the Poseung biomass power plant. The Poseung biomass power plant can generate 43MW of power and 174 tons of heat source per hour. It has been in commercial operation since 2018.
DL E&C anticipates that the size of the biomass power generation market will expand due to global de-carbonization policies and rise in LNG price. DL E&C expect to won additional orders for biomass power plants in and out of the country, based on the successful implementation of this project.
Yoo Jae-Ho, the director of DL E&C’s Plant Business Division, said, “We participated in this project because our experience in constructing biomass power plants has been highly recognized by the client. We plan to expand our eco-friendly power generation portfolio, including biomass, through successful implementation of this project.”
