Oman Oil Co’s (OOC) venture in South Korea’s power generation sector, GS EPS Co Ltd, has officially inaugurated the largest biomass power plant in Asia with a capacity of 105MW and investment cost of about US$273mn.
GS EPS is a joint venture between OOC (30 per cent) and GS Holdings (70 per cent).
GS EPS, South Korea’s independent power producer, held a project completion ceremony for the plant in the presence of executives of GS Group and OOC at its Bogok Industrial Complex, in Dangjin, in South Korea’s Chungnam province.
“It is a source of great pleasure for OOC to witness the inauguration of the project.
This investment is part of the company’s integrated strategy to diversify its growing investments internationally. OOC plays a vital role to facilitate the transfer of expertise and technology to form a knowledge-based economy, and aims to build technological and operational capacities through strategic partnerships. In future, similar renewable energy project opportunities can be explored in Oman,” said Hilal al Kharusi, VP of emerging businesses at OOC.
GS EPS generates and provides electricity using natural gas and bio-energy. The company operates LNG fired combined cycle power plants in Dangjin of about 1,500MW capacity, a 30MW biomass power plant in Shandong, China and a fuel cell power plant in South Korea.
The GS EPS biomass power plant will use palm kernel shell (PKS) as fuel and produce electricity using a steam turbine and circulating fluidised bed combustion type boiler.
