Press Release

Doosan Enerbility announced on November 13th that its large-scale gas turbine for power generation had been selected as one of the “Top 10 Mechanical Engineering Technologies of the Year 2024.”

The “Top 10 Mechanical Engineering Technologies of the Year” which is announced every year by the Korean Federation of Mechanical Engineering Societies was devised for the purpose of identifying outstanding Korean-made products and technologies in the mechanical engineering field to commend the hard work of researchers and to promote the excellence of Korea’s mechanical engineering technology.

After Doosan succeeded in the local manufacturing of the large-scale gas turbine in 2019, Korea’s first locally developed gas turbine was delivered to the Gimpo Combined Heat and Power(CHP) Plant, which is operated by Korea Western Power(KOWEPO), after which a demonstration run was successfully carried out for 8,000 hours to demonstrate the gas turbine’s technological reliability. Doosan went on to successively win additional gas turbine orders thereafter, such as the order for the Korea Midland Power(KOMIPO)’s Boryeong New Combined Cycle Power Plant in June 2023, Korea Southern Power(KOSPO)’s Andong Combined Cycle Power Plant Unit 2 in January 2024, followed by an order in July 2024 for the 380MW gas turbine to be deployed at KOMIPO’s Haman Combined Cycle Power Plant.

In addition to the supply of new gas turbines, Doosan is also working on the expansion of its gas turbine services business. This past July, Doosan Enerbility cinched a deal with KOSPO regarding a 10-year long term service agreement(LTSA) for its gas turbines. The company is making headway into further expanding their services business, by taking on contracts such as for turbine rotor lifetime extension, supply of hot parts and turbine casing replacement work. As the gas turbine services business is a recurring business that can serve as a source of long-term stable revenue and underlying profit for a company, it can contribute to the stable business operation of the company.

Doosan Enerbility’s cumulative order intake for the manufacturing of main components, such as gas turbines, and the related services, surpassed the KRW 1 trillion mark recently. With the company’s target being to achieve a cumulative order intake that exceeds 100 units for its gas turbines by 2038, it is expected that a revenue of KRW 1 trillion will be achievable in the field of gas turbine services alone by 2038.

▲Kwangyol Lee, Senior Vice President of Doosan Enerbility(2nd from the left) poses for a group photo at the “Top 10 Mechanical Engineering Technologies of the Year 2024” awards ceremony held at the El Tower in Seoul on Nov 13.

▲Kwangyol Lee, Senior Vice President of Doosan Enerbility(on the left) poses for a photo with Donghwan Kim, President of the Korean Society of Mechanical Engineers, at the “Top 10 Mechanical Engineering Technologies of the Year 2024” awards ceremony held at the El Tower in Seoul on Nov 13.