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.
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.
“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.