Establish 'TRUST' strategy, a renewable energy-focused portfolio
It signed a 30-year power sales contract with PLN(Perusahaan Listrik Negara) and expects to generate about 280 billion won.
KOMIPO(KOREA MIDLAND POWER CO., LTD) (President Park Hyung-koo) is making progress in revitalizing the industrial ecosystem and creating jobs by expanding the territory of the renewable power generation project. In particular, KOMIPO plans to supply 25% of its total power generation as renewable energy by 2030 and take the lead in implementing energy conversion by revitalizing the hydrogen economy.
KOMIPO to suit the government ‘3020 of renewable energy policy’ of the Moon Jae-in, such as solar and wind power portfolio of renewable energy ‘trust’, that strategies.Said.
The TRUS'T strategy for the spread of clean energy consists of five tasks: ``Together,'' ``Reduction,'' ▷ ``Using'' (use of waste resources for future generations), ▷Share (Win-Win Dream through energy sharing) and ▷Tighten.
First of all, it signed a business agreement with Inje County, Gangwon Province, in August last year to "enjoy together through cooperation," spurring the development of regional win-win new and renewable projects. In particular, the project is drawing attention as a pilot project for marine co-existence solar energy using the country's first Hwangtae Deokjang. In addition, the use of idle land through cooperation between local governments and public agencies is seen as a model case for efficient utilization of domestic scarce resources and co-prosperity in the region.
In addition, KOMIPO is actively participating in the development of various new technologies under the belief that "only securing pure domestic new technologies guarantees the future of the renewable energy business." A case in point is the start of development of wall-type photovoltaic modules that shape optical patterns to improve power generation efficiency in May 2018.
Above all, Korea's central power generation is making outstanding achievements in overseas renewable projects. A typical success story is the Indonesian hydroelectric project. Starting with the first commercial operation of the Ttungpu Hydroelectric Power Plant (45MW) in April 2016, the Ttangamus Hydroelectric Power Plant (55.4MW) successfully completed construction in July 2018 and began commercial operation consecutively. Through the project, KOMIPO is expected to generate about 280 billion won in self-profit by signing a 30-year contract with Indonesia Electric Power Corp. In addition, the U.N. has recognized carbon emission rights of 220,000 tons per year in recognition of greenhouse gas reduction effects.
These projects are drawing attention as standard models for Korea-Contents export-type overseas private development projects, in which domestic companies participated in the entire process of the project, from financing (Korea Export-Import Bank) to power plant construction (POSCO Construction, domestic small and medium-sized enterprises).
Currently, KOMIPO is pushing for four additional hydroelectric power plant projects in Indonesia. All four projects, including Siborpa (114MW), passed the preliminary screening of the bid for the hydroelectric project under the supervision of Indonesia's power construction company in March last year. Results of selection of preferred businesses will be released in the second half of this year. On top of that, the company is seeking to advance into new countries such as Pakistan and Laos based on its experience in Indonesia's hydropower business.
It is also actively pursuing solar and wind power generation projects in Europe and North America. The Stavro Wind Power Complex (254MW) is being developed jointly with Korean and German financial investors in the central and northern Sweden, which is rich in wind resources. In addition, South Korean companies and California are pushing for ESS (Energy Storage System) projects.
[Journalist Bae Moon-sook, Bae Moon-sook]
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