GS Banwol Combined Heat and Power Teams Up with Doosan Enerbility for 'Power Plant Modernization'

Transitioning Aging Coal-Fired Facilities to LNG and Hydrogen Co-Firing
Completion Targeted for 2032; Business Agreement Signed with Ansan City
Eco-Friendly Energy Transition... "Ensuring Stable Power Supply"

GS Banwol Combined Heat and Power Plant, a subsidiary of GS E&R, is set to launch a full-scale modernization project to replace its aging coal-fired combined heat and power facilities with eco-friendly liquefied natural gas (LNG)-based combined heat and power systems.

On September 24, GS Banwol Combined Heat and Power Plant announced that it had signed a business agreement with Doosan Enerbility for the supply of main equipment and cooperation in engineering, procurement, and construction (EPC), with plans to transition to facilities capable of hydrogen co-firing in the future. The signing ceremony, held on September 23 at GS Tower in Gangnam-gu, Seoul, was attended by Jungkyun Lee, CEO of GS Banwol Combined Heat and Power Plant, Bongjun Kim, Head of Plant EPC Sales at Doosan Enerbility, and other representatives from both companies.

Jungkyun Lee, CEO of GS Banwol Combined Heat and Power Plant (left), and Bongjun Kim, Executive Director of Doosan Enerbility, signed a business agreement on the 23rd to promote the "Banwol Combined Heat and Power Plant Modernization Project." GS E&R

Under this agreement, GS Banwol Combined Heat and Power Plant will decommission its coal-fired combined heat and power facilities, which have been operating for over 30 years in the Banwol National Industrial Complex in Ansan, Gyeonggi Province, and introduce new combined heat and power systems capable of utilizing both LNG and hydrogen co-firing, with completion targeted for 2032. Doosan Enerbility will supply key equipment such as gas turbines and handle the EPC process. Both companies plan to contribute to achieving carbon neutrality by 2050 by expanding the use of hydrogen fuel in the long term.

Previously, on September 22, GS Banwol Combined Heat and Power Plant also signed a business agreement with Ansan City to discuss eco-friendly energy transition and regional cooperation measures. The company stated that its collaboration with Doosan Enerbility is expected to accelerate the energy transition and help ensure stable power supply for companies located within the industrial complex.

Jungkyun Lee, CEO of GS Banwol Combined Heat and Power Plant, said, "Through this collaboration, we aim to reduce the environmental burden of energy use for companies within the industrial complex and help strengthen industrial competitiveness. We will establish a stable and eco-friendly energy supply foundation to support the sustainable growth of the local economy."

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