Daewoo boosts presence in energy infrastructure

Korean builder Daewoo Engineering & Construction is boosting its efforts in the energy field, with various projects in both fossil fuel and renewable fields.

Last year, the company mapped out a long-term plan to become a “global infrastructure and energy developer“ by 2025 with an aim to offer a comprehensive solution from planning and construction to power plant operation.

Since 2013, the company has focused on projects concerning an independent power producer that helps generate electric power for sale to utilities and end users.

Participating in the government-led project of building a coal-fired power plant in Pocheon, Gyeonggi Province, the company kicked off the construction in November 2014. It will start operating next year. Daewoo E&C established Daewoo Power last year to take charge in its operation.

Daewoo E&C is also putting efforts in the renewable energy sector.

It built the country’s first-ever tidal plant is Sihwaho Lake, which can generate 525 million kilowatts per hour. The tidal plant can supply electricity for up to 500,000 residents.

The tidal plant has replaced the use of 862,000 barrels of oil per year and cut 315,000 tons of emissions, the company said.

By Lee Hyun-jeong  (rene@heraldcorp.com)