GS E&R is moving to phase out coal and expand low-carbon energy supply by converting aging coal-fired combined heat and power facilities in industrial complexes to liquefied natural gas, in partnership with Korea Southern Power Co.
GS E&R said on the 9th that it had signed a memorandum of understanding with Korea Southern Power, or KOSPO, on joint cooperation in new power generation development projects.
The signing ceremony was held the previous day and was attended by GS E&R Chief Executive Hwang Byung-so and KOSPO President Kim Jun-dong, among others.
The two companies will jointly pursue the conversion of aging coal-fired combined heat and power plants into LNG-based facilities. The plan is to replace existing coal-centered generation equipment with LNG facilities that emit less carbon, producing cleaner heat and electricity while reducing carbon emissions at tenant companies to strengthen their export competitiveness.
GS E&R currently supplies process heat to companies operating in national industrial complexes including Banwol, Gumi and Pocheon. The company also operates a 126-megawatt wind power complex in Yeongyang County, North Gyeongsang Province.
The two sides plan to cooperate on drawing up plans for the LNG fuel conversion and modernization project, reviewing technologies for eco-friendly heat and power supply, conducting feasibility studies and handling permits and approvals.
"We will build a stable and environmentally friendly foundation for energy supply so that the regional economy can continue sustainable growth," Hwang said.
