World Economy

Asia’s Largest Biomass Power Plant Opens in S. Korea

Asia’s Largest Biomass Power Plant Opens in S. Korea Asia’s Largest Biomass Power Plant Opens in S. Korea

Oman Oil Company’s partly-owned South Korea’s power producer—GS EPS—has officially inaugurated the largest biomass power plant in Asia.

The project has a capacity of 105 megawatt, which was developed with a capital expenditure of about $273 million. GS EPS is a joint venture in Korea between OOC (30%) and GS Holdings (70%), according to a press release, Yahoo reported.

GS EPS, Korea’s independent power producer has conducted a project completion ceremony for the Biomass Power Plant in the presence of executives of GS Group and OOC, at GS EPS’s Bogok Industrial Complex at Dangjin, Chungnam Province, South Korea.

“It is a great pleasure for OOC to witness the inauguration of the project completion with GS Holdings. This investment is part of the company’s integrated strategy to diversify its growing investments internationally,” said Hilal Al Kharusi, vice-president of emerging businesses at OOC.

“OOC plays a vital role to facilitate the transfer of expertise and technology to form a knowledge-based economy, and aims to build the technological and operational capacities through strategic partnerships. In future, similar renewable energy project opportunity can be explored in Oman,” he added.

GS EPS generates and provides electricity using natural gas and bio energy. The company operates LNG fired combined cycle power plants in Dangjin, Chungnam Province, which has a capacity of 1,500 megawatt; biomass power plant in Shandong, China of 30 megawatt; and fuel cell power plant in Korea.

GS EPS Biomass Power Plant, which will use Palm Kernel Shell, an environmentally-friendly fuel for the plant and produce electricity by the steam turbine and Circulating Fluidized Bed Combustion type boiler. The Biomass Power Plant has the capacity to generate electricity for 110,000 people. Further, it is very effective for carbon reduction, comparing to other conventional power plants.