With insights into the latest trends, innovations, and relationship management strategies, Transform articles help asset managers in the energy industry navigate the complex landscape of plant and fleet management.
Keeping the South Korean Economy Growing
South Korea is a rising economic and technology leader, with more than 4 percent GDP projected growth annually through 2030. Korea Southern Power Company, Ltd. (KOSPO) is critical to South Korea’s growth, providing more than 11 percent of the country’s power working daily to keep the lights on and the economy booming.
The Power of the Industrial Internet
To meet the demand of its growing economy's need for power, KOSPO chose to get more out of its existing power generation units. The company upgraded its GE 7F gas turbines with innovative hardware and software technologies that harness the power of the Industrial Internet, the convergence of machines and intelligent data. Power FlexEfficiency, a GE Predictivity solution, enables gas turbines to better survive—and thrive—through grid fluctuations. Increased productivity enables KOSPO to meet the power demand of South Korea’s thriving economy, while reducing fuel costs and lowering its emissions footprint.
KOSPO’s Shinincheon site achieved a 10 percent output increase and 4.3 percent efficiency increase, while its Busan site delivered an additional 35 MW of power and a 2.6 percent efficiency increase. Combined, these plants are now generating an impressive additional 215 MW of power, enough to energize 130,000 homes.