Press Release

Doosan Enerbility announced on September 24th that it had signed a memorandum of understanding with GS Banwol Combined Heat and Power Co., Ltd. (GS Banwol CHP Co.)* on pursuing the Banwol Collective Energy Fuel Conversion and Modernization Project.  The signing ceremony which was held on September 23rd at the GS Tower in Yeoksam-dong, Seoul, was attended by the related parties, including Jeong-gyun Lee, CEO of GS Banwol CHP Co., and Bongjun Kim, Senior Vice President of Doosan Enerbility’s Plant EPC Sales & Marketing.
* GS Banwol CHP Co.: collective energy supplier that provides heat and electricity to the Ansan Smart Hub (formerly, Banwol National Industrial Complex).

Under the terms of the MOU, the two companies will be jointly reviewing methods for converting the aging CHP plant currently in operation at the Ansan Smart Hub into a high-efficiency natural gas-fired CHP plant. GS Banwol CHP Co., as the party in charge of the plant operation, will be responsible for providing a stable supply of heat and electricity for the national power grid and industrial complex. Doosan Enerbility will be delivering the main components, such as locally manufactured gas turbines, and the key equipment which are required for the modernization project, while also cooperating closely on the entire engineering, procurement and construction (EPC) process.

The plan is to have the power plant converted into a high-efficiency, eco-friendly power plant, one that has Doosan Enerbility’s H-class* gas turbine installed.   The plant will be designed to be capable of accommodating future fuel conversion to hydrogen, thereby aligning with the Korean government’s policy of pursuing eco-friendly energy transition and carbon neutrality.
* H-class gas turbine: high-efficiency turbine model with a turbine inlet temperature in the range of 1500℃ or higher

“In reflection of the industrial complex’s actual demand pattern, we plan to offer our high-efficiency, low-emission CHP solution starting from the initial stages, such as in the environmental impact assessment, basic design and authorization stages,” said Hyeonho Lee, CEO of Doosan Enerbility’s Plant EPC Business Group.  “By leveraging our two companies’ plant operation and EPC know-how, we plan to join forces in providing a stable energy supply and boosting regional industrial competitiveness.”

Based on the recently signed MOU, Doosan Enerbility and GS Banwol CHP Co. plan to jointly engage in phased activities, such as the technical review, feasibility study and creation of a detailed implementation plan, as part of the efforts to sustain a strategic and preferential partnership.

▲ On Sept. 23, Jeong-gyun Lee, CEO of GS Banwol CHP Co.(on the left), and Bongjun Kim, Senior VP of Doosan Enerbility’s Plant EPC Sales & Marketing, pose for a photo at the MOU signing ceremony for the Banwol Collective Energy Fuel Conversion & Modernization Project held at the GS Tower in Yeoksam-dong, Seoul.

▲ On Sept. 23, Jeong-gyun Lee, CEO of GS Banwol CHP Co.(3rd from the left), and Bongjun Kim, Senior VP of Doosan Enerbility’s Plant EPC Sales & Marketing (4th from the left), pose for a group photo with related parties at the MOU signing ceremony for the Banwol Collective Energy Fuel Conversion & Modernization Project held at the GS Tower in Yeoksam-dong, Seoul.