Korea South-East Power Co. (KOEN) has been building a new business model in the owners engineering (OE) sector of independent power plants. OE refers to an entity’s construction management, ranging from planning to design, procurement, construction and quality on behalf of the owner of a project.
KOEN has been conducting construction management projects related to the nation’s biggest-ever independent power plants: Goseong Green Power and Gangneung Eco Power since 2014, the power company said on Jan. 2.
In order to carry out the construction management projects, costing 138.6 billion won, KOEN became the first public entity to be registered as a comprehensive supervision body and enter the business in August 2014.
KOEN has managed all processes of the 2GW Goseong Green Power, ranging from the master plan of construction to design, construction and trial operation.
The plant, dedicated in June, is now in commercial operation. The Gangneung Eco Power Unit 1, which went into trial operation in October, is scheduled to be dedicated in March.
KOEN has managed to achieve accident-free trial operation and minimize abrupt stoppages through optimized design verification while implementing the projects.
The power company has a track record of accumulating construction management capabilities of the biggest capacity plants, such as Yeongheung Power Units 1 to 6 and power operation data, as well as demonstrating technologies to localize major equipment and components.
KOEN had saved a combined 210.1 billion won in unit costs by conducting diverse activities to improve design through a thorough design review employing value engineering (VE).
KOEN became the winner of the MOTIE minister’s prize at the 2022 VEM Conference Awards ceremony held last November in recognition of making achievements for the second straight year.
The Goseong Green Power and Gangneung Eco Power, done with KOEN’s excellent power plant construction capabilities, have been contributing to stabilizing power supply amid a situation of renewing peak power demand records in row due to an unprecedented cold wave.
Lee Young-ki, head of KOEN’s Construction Division, said, “KOEN will aggressively support the implementation of projects and contribute to improving the profitability of public organizations by participating construction management of renewal energy projects, such as large-sized wind power plants, now under way, based on a track record of carrying out construction management projects of large-capacity power plants.”
KOEN Recipient of Outstanding Public Data Quality Management Certificate
KOEN received a certificate of top grade in the 2022 public data quality management entity review from the Ministry of the Interior and Safety (MOIS) on Dec. 28.
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