- Joint development of overseas hydropower business ... Localization and supply of hydropower plant equipment and engineering
- SE Asian hydropower market expected to grow to 40GW by 2040
Doosan Heavy Industry & Construction (DHIC) announced on November 12 that it signed an agreement with KOMIPO to enter the overseas hydropower markets.
Attending the signing ceremony held at DHIC’s head office in Changwon were Noh Woong-hwan, Head of the Business Division of KOMIPO, and Na Gi-yong, VP of DHIC.
With the signing of the agreement, both companies will cooperate for the “joint development of new overseas hydropower business” and “localization of hydropower plant equipment and engineering and development of sales channels for export.”
KOMIPO has operated the 45MW Wampoo Hydropower Plant in Sumatra Island, Indonesia since 2016 and 55.4MW Tanggamus Hydropower Plant since 2018. The company is developing several hydropower projects in Indonesia.
DHIC began the hydropower business in the 1980s. Having been the main contractor for many hydropower plants for a total capacity of 3100MW in Korea, it has supplied the main equipment to overseas hydropower plants in the United States, India, and Philippines.
It is expanding its overseas business as it won the KRW 400 billion Upper Tirshuli-1 Hydropower Plant in Nepal last month and is developing a hydropower plant project in Pakistan.
“Since this agreement will expand opportunities for both companies to strengthen their presence in hydropower business in Korea and overseas, which has been dominated by foreign companies, we plan to increase the localization of main equipment manufacture and design and promote the domestic hydropower ecosystem. We will aggressively penetrate the SE Asian hydropower market, which is expected to grow to about 40GW by 2040,” said DHIC VP Na Gi-yong.
DHIC signed an agreement for business and technology cooperation in hydropower generation with global leader Andritz Hydro in Austria in September last year to enhance self-reliance in hydropower engineering technology. The company is currently localizing 30MW water turbine and generator jointly with KHNP.