New 833-MW Combined-Cycle Plant Provides High Efficiency and Low Emissions
PYEONGTAEK, KOREA---October 12, 2010---GE (NYSE:GE) has received contracts totaling more than $450 million to supply advanced technology equipment and services for the largest combined heat and power (CHP) plant in Korea. The deal closed in the second quarter of 2010. The 833-megawatt Oseong Combined-Cycle power plant currently under construction, is located in Pyeongtaek, about 60 kilometers south of Seoul, will help Korea meet a growing demand for heat, air conditioning and energy while also supporting the country's emissions reduction targets.
The owner of the plant, Pyeongtaek Energy Service Co., Ltd, is a subsidiary of SK Group, the third largest business conglomerate in Korea. The plant is scheduled to begin commercial operation by January 2013, providing heat and power to commercial, residential and industrial areas in the Pyeongtaek, Gyeonggi-do region.
"Heating and air conditioning demand in Korea is expected to increase more than 6% this year, compared to 2009. Our new CHP plant will help to meet this demand," said Mr. Park Young Soo, CEO of Pyeongtaek Energy Service Co. "Energy requirements in Korea also are expected to rise by 7% due to a surge in demand fueled by solid economic growth and unseasonable temperatures. Using GE's advanced technology, the new plant will help meet these needs by generating enough efficient, cleaner energy to serve an additional nearly 550,000 Korean households."
CHP is an efficient and cleaner approach to generating power and thermal energy from a single fuel source. Primary fuel for the Oseong CHP facility will be liquefied natural gas (LNG) supplied by the Korea Gas Corporation. Powered by GE's high-efficiency, gas-fired 7FA combined-cycle technology, the new plant will support Korea's commitment to reduce greenhouse gas emissions by approximately 30% by the year 2020.
"The Oseong project demonstrates GE's capability to provide energy-efficient and greener solutions on a large scale, to help Korea meet its growing energy needs," said Kenji Uenishi, President, GE Energy Asia Pacific. "We have enhanced our combined-cycle technology with our most advanced 7FA gas turbine and a customized steam turbine to meet the project's heat demands."
The scope of GE's contract with SK Engineering & Construction, the turnkey EPC supplier for the project, includes three 7FA gas turbines, three heat recovery steam generators, one D11 steam turbine and one condenser. GE also will provide contractual services and operation and maintenance services for the plant.
The reliability of GE's 7FA gas turbine has consistently been 98 percent or higher in projects worldwide. This high reliability provides customers with more days of operation per year while minimizing the overall life cycle cost of the gas turbine. The 7FA gas turbine also is an industry leader in reduction of nitrogen oxide and carbon monoxide emissions. GE's DLN 2.6 (Dry Low NOx) combustor produces less than 9 ppm NOx and CO, reduces the need for exhaust cleanup systems and potentially saves millions of dollars.
More than 1,000 GE F-technology gas turbines have been installed worldwide, and have compiled more than 32 million operating hours. GE's F-class turbines offer flexible fuel handling that accommodates a wide range of fuels including natural gas, light and heavy distillate oil, high hydrogen syngas, naphtha, crude and residual oil.
About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com.
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $40 billion, GE Energy www.ge.com/energy is one of the world's leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy---GE Power & Water, GE Energy Services and GE Oil & Gas---work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
Ken Darling
Masto Public Relations
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1-518-786-6488
Cynthia Coleman
GE Oil & Gas
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1-281-921-5018
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Masto Public Relations
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