Bukpyung power station

From Global Energy Monitor

Bukpyung (Buk-Pyeong) power station (북평화력) is a 1190-megawatt (MW) coal-fired power station in Donghae City, Gangwon Province, South Korea.

Location

The aerial photograph shows the Bukpyung National Industrial Complex in Donghae City, Gangwon Province, where the plant is under construction.

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Background on Plant

The project is a joint venture between STX Electric Power, a subsidiary of STX Energy (which is a subsidiary of STX Group), and Korea East-West Power. STX Energy, which owns 51 percent of the project, is in charge of building and managing the plant while Korea East·West Power will be in charge of operations and maintenance. The project is slated for completion in 2016.[1]

The project is one of the first coal plants in Korea to be built by an independent power, or merchant power, company.[2] STX Energy was acquired by GS E&R in 2014.[3]

Construction was stalled in 2016 due to financial difficulties facing construction contractor STX Heavy Industries, with commissioning postponed to 2017. At the time unit 1 was under test operation.[4][5]

Construction resumed in late 2016.[5] Unit 1 began commercial operation in March 2017.[6] Unit 2 was commissioned in August 2017.[7]

Timeline

  • December 2012: Ground-breaking ceremony at plant site[2]

Financing

In 2013, a financing agreement for the plant was closed.[8] Financing was provided by the Korea Development Bank.[9]

Project Details

  • Sponsor: GS E&R (51%), Korea East-West Power (34%), Samtan (15%)
  • Location: Bukpyung National Industrial Complex, Donghae City, Gangwon Province
  • Coordinates: 37.4805456, 129.143343 (exact)
  • Status: Operating
  • Gross Capacity: 1,190 MW (Units 1-2: 595 MW)
  • Type: Supercritical
  • Start Year: 2017
  • Coal Type: anthracite
  • Coal Source:
  • Source of financing: Korea Development Bank[9]

Articles and resources

References

  1. "STX Electric Power Holding Groundbreaking Ceremony for Bukpyung Thermal Plant," STK press release, December 26, 2012
  2. 2.0 2.1 "Hosts of Foreigners Enters New Merchant Power Plant Projects," Korea IT Times, June 25, 2013
  3. "GS Reshapes Energy Business through Acquisition of STX Energy," Business Korea, Feb 17, 2014
  4. "삐걱이는 민자발전, 화력건설 곳곳서 파열음," EKN, Sep 22, 2016
  5. 5.0 5.1 "GS동해전력 '북평화력발전소' 건설 재개 오리무중," EKN, Nov 10, 2016
  6. "북평화력발전소 1호기 상업운전 시작," Kado, Mar 29, 2017
  7. "GS, GS칼텍스와 발전자회사 호조로 3분기 실적 증가," Business Post, Aug 14, 2017
  8. "GS Donghae Electric Power | GS Homepage". www.gs.co.kr. Retrieved 2020-12-14.
  9. 9.0 9.1 "South Korea's Fine Dust Financiers | KÉ BUSINESS". KOREA EXPOSÉ. 2018-04-12. Retrieved 2020-12-14.

Related GEM.wiki articles

External resources