Doosan Heavy Industries & Construction is shifting its focus to new industry businesses, including new and renewable energy gas turbines, with the goal of filling the national energy vacuum caused in the wake of the President Moon Jae-in government’s decision to wean Korea off nuclear power. The company established a plan to pour 7.4 trillion won into new businesses over next five years. The figure surpasses the value of orders Doosan Heavy Industries & Construction aims to land this year.
Doosan Heavy Industries & Construction unveiled a plan to enter the Southeast Asian wind power market this year. The Korean wind power industry is in an early stage, so the company plans to explore overseas wind power markets. The company’s move to tap the Southeast Asian market, including Vietnam is part of its efforts to expand new and renewable energy businesses.
Doosan Heavy Industries & Construction is striving to conform to the government’s fast power generation paradigm shift into new and renewable energies.
Chairman Park Jee-won repeatedly told his executives and staff members to accelerate efforts to explore such new businesses as wind power, energy storage system, gas turbine and services.
The government aims to raise the portion of new and renewable energies in total power generation to 20 percent by 2030. To achieve the goal, the government targets 63.8GW in new and renewable energy facilities by that year. Out of total, 4.2GW will come from wind power and photovoltaic power. To this end, it plans to build additional 16.5Gw wind power facilities by 2030, an annual average of 1.3 GW. The figure surpasses 1.2GW, the production capacity of wind power facilities in operation.
Most of the upcoming wind power facilities, to be added in the years to come, will be built with coastal wind power facilities, so for Doosan Heavy Industries & Construction, it will serve as a boon as Doosan is the sole Korean company to have experiences of constructing coastal wind power facilities and own technology.
The company also strives to expand revenues from the ESS sector. ESS is required to stabilize the power supply of new and renewable energies like wind and photovoltaic power, whose power generation is precarious. In 2016, Doosan Heavy Industries and Construction acquired 1Energy Systems, founded in 2011 to develop the software platform needed to automatically integrate Distributed Energy Resources (DER) into the electric power system. 1Energy Systems has been renamed Doosan GridTech. Doosan Heavy Industries and Construction recently inaugurated the New & Renewable Business Unit to ramp up its presence in the sector.
The company is turning its focus on the development of a gas turbine whose prototype will be done this year. Business sources said the bulk of coal-fired power generation will be replaced with LNG-fired power. Doosan Heavy Industries and Construction is focusing on such markets as Korea and the United States as well as the Middle East, Europe and Asia, a company official said. The markets, which have 4,400 gas turbines in place, are huge, he added.
Doosan Heavy Industries and Construction plans to retain and develop the conventional mainstay businesses, including nuclear power. To this end, the company has introduced a power generation service business group specializing in function update, maintenance, upkeep, and repair, deemed as highly added values.
_두산중 창원공장.jpg)
