EGCO Group powers up Gangdong power plant in South Korea
Electricity Generating Public Company (EGCO Group) kicked off operations at its 19.8-megawatt Gangdong fuel-cell power plant in South Korea on Thursday.
“The 19.8MW Gangdong power plant operated by Paju Energy Service, in which EGCO holds a 49 per cent stake while SK E&S holds the rest, commenced commercial operations on October 1,” said Thepparat Theppitak, EGCO Group’s president.
“The plant will sell electricity to the Korea Electric Power Corporation, the sole buyer of wholesale power generation in South Korea, through the Korea Power Exchange.
“The new power plant will continuously generate revenue for EGCO with its earnings to be realised in the fourth quarter of this year onwards,” Thepparat said.
“The power plant will also generate incremental revenue from selling thermal energy and also receive renewable credits in the form of renewable energy certificates in relation to its electricity generation output,” he added.
The Gangdong fuel cell power plant is located in Gangdong-gu in the South Korean capital Seoul.
