Power & Energy
Based on industrial infrastructure such as power generation, transmission and distribution of power, and new renewable energy, POSCO DAEWOO engages in project organizing in the form of engineering, procurement and construction (EPC) and independent power producer (IPP) projects through direct overseas investment as a project developer.
POSCO DAEWOO is also solidifying its position as a top project organizer and project developer in the fields of power generation (e.g., coal-fired power plants, gas-based combined-cycle power plants, cogeneration power plants, hydroelectric power plants), power transmission and distribution (e.g., power transmission & distribution EPC projects, smart grid projects) and new renewable energy (e.g., solar light plants, new renewable energy plants).
Papua New Guinea IPP Project
Since 1999, POSCO DAEWOO has supplied 25% of Papua New Guinea's metropolitan power grid demand through a 25MW internal combustion electric power plant situated in the country's capital city of Port Moresby. Upon completion of the 15-year project in 2014, it accomplished to secure the basis for stable power production for 5 years through successful rehabilitation, operation, maintenance and management (ROMM) by life extension and efficiency enhancement of the power plant.
Moreover, POSCO DAEWOO’s competence as a project developer was recognized by PNG Power Ltd., Papua New Guinea's state-owned power authority, which enabled the company to sign a power purchase agreement to newly establish and operate a 30MW internal combustion electric power plant in Lae, the country's second largest city, solidifying its position as a power producer in Papua New Guinea.
Papua New Guinea POM(Port Moresby) Power Plant
- Participation : Started commercial operation in January 1999
- Equity : 100 %
- Capacity : 24MW
- Form of Business : BOOT (Build - Own - Operate - Transfer)
- Period : 15 years + 5years
Papua New Guinea LAE Power Plant
Participation : Established in October 2013
Signed power purchase agreement (PPA) with PNG Power Ltd. (PPL) in January 2014
Signed contract with EPC for construction of power plant in April 2015
- Equity : 100 %
- Capacity : 34MW
- Form of Business : BOO (Build - Own - Operate)
- Period : 15years (Aim to extend contract upon expiration)