SK Engineering & Construction Co. said Thursday it plans to set up two additional coal-fired units at its power plant complex here to help secure electricity supplies.
The Korean builder has secured a deal with Korea South-Eastern Power, a state-run utility, to add two units to its existing plant in Goseong, South Gyeongsang Province, by 2019.
The 3 trillion won ($2.64 billion) project will boost the complex’s total production capacity by 2,000 megawatts from the current 3,240 megawatts, SK said.
The new generators in particular will embrace technologies to cut fuel costs, greenhouse gas emissions and other toxic discharges, the company said. It also will install power generators that use renewable resources such as solar, wind and water.
The two partners plan to submit their proposal in April to Korea Electric Power Corp., the country’s sole power grid operator. If accepted, SK and the SEP, a KEPCO subsidiary, will start construction in June 2014.
Under the partnership, SK will carry out engineering, procurement and construction for the project. The SEP is in charge of operation and management.
Company officials expect the envisioned project will prop up the local economy and the renewable energy industry while helping tackle persisting concerns about electricity shortages.
“The new power plants will provide a good chance to expand power supply equipment in the face of spiraling demand,” said Kwon Soon-young, chief of the SEP’s growth engine division.
By Shin Hyon-hee