Press Release

Doosan Enerbility announced on September 17th that it had recently signed a memorandum of understanding with Korea Southern Power (KOSPO) on engaging in cooperation efforts for the local manufacturing of pumped-storage hydropower(PSH) plant components. The signing ceremony, which was held the prior day at the Bundang Doosan Tower located in Seongnam of Gyeonggi Province, was attended by the related parties, including Jundong Kim, CEO of Korea Southern Power; Yeonin Jung, Vice Chairman and COO of Doosan Enerbility and Seungwoo Sohn, CEO of Doosan Enerbility’s Power Services Business Group.

With the signing of the MOU, the two companies agreed to cooperate on obtaining technological self-reliance for the engineering and manufacturing of pumped-storage hydropower plant components. Doosan Enerbility will be stepping up efforts to secure proprietary technology for the engineering and manufacturing by engaging in partnerships with leading global players in this field.  KOSPO will be providing the environment for conducting demonstrations of the locally manufactured products, while actively supporting the development of sales channels.

According to the South Korean government’s 11th Basic Plan for Long-Term Electricity Supply and Demand, plans are in place to have PSH plants with a combined installed capacity of 5.7GW (total 9 units) built by 2037. Doosan Enerbility aims to increase the percentage of locally manufactured components by applying Korean-made products to the PSH plant projects that are pursued together with KOSPO, ultimately leading to the strengthening of the Korean industrial ecosystem.

With more pumped-storage hydropower plants being built recently, the need is also growing for technological self-reliance in plant component engineering and manufacturing,” said Yeonin Jung, Vice Chairman and COO of Doosan Enerbility.  “By collaborating with KOSPO, which has provided us with the environment for conducting product demonstrations, we plan to expedite the localization of PSH plant components manufacturing.”

Upon signing a supplier agreement valued to be KRW 330 billion with Korea Hydro & Nuclear Power (KHNP) this past June for the components of the Yeongdong Pumped-Storage Hydropower Plant Units 1 and 2, Doosan is seeking to expand its pumped-storage hydropower business. Doosan Enerbility is also engaged in a partnership with Austria’s Andritz, the leading global supplier of hydropower equipment, to help Korea achieve technological independence in the engineering of pumped-storage hydropower plant components.

▲ Jundong Kim, CEO of Korea Southern Power (on the left), and Yeonin Jung, Vice Chairman & COO of Doosan Enerbility, pose for a photo at the MOU signing ceremony held at Bundang Doosan Tower on Sept 16 for the local manufacturing of PSH plant components.

▲ Jundong Kim, CEO of Korea Southern Power (front row, 6th from the left), and Yeonin Jung, Vice Chairman & COO of Doosan Enerbility (front row, 6th from the right), pose for a group photo with the related parties at the MOU signing ceremony held at Bundang Doosan Tower on Sept 16 for the local manufacturing of PSH plant components.