GS EPS has completed a fourth phase of construction for the 900MW combined cycle power (CCGT) plant in Dangjin, South Korea.
Power efficiency of the newly completed Phase IV is 60%. When completed, the plant will receive directly imported liquefied natural gas (LNG) to continue operations.
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Compared to its counterparts, the facility is also expected to generate more power with the same amount of fuel because of its high efficiency.
GS EPS is a joint venture (JV) of Oman Oil Company and GS Holdings. GS Holdings owns a 70% stake in the company, while Oman Oil Company holds a 30% share.
Oman Oil Company CEO Isam Zadjali said: “This investment is part of the OOC’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 the technological and operational capacities through strategic partnerships.
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By GlobalData“In future similar renewable energy projects opportunities can be explored in Oman.”
GS EPS currently operates three LNG-fired CCGT plants with a combined capacity of 1,500MW, alongside a 100MW renewable energy power plant in Dangjin.
Oman Oil Company noted that so far it has made more than 50 investments, both locally and internationally.
Image: GS EPS representatives mark the completion of the fourth phase of construction of a 900MW CCGT plant in South Korea. Photo: courtesy of Oman Oil Company.
