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Posco Energy

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POSCO Energy
IndustryElectricity
Founded1969 (1969)
Headquarters
Seoul
,
South Korea
Key people
Ko Seong-Sick
(Chief Executive Officer)
ProductsElectric power
LNG
fuel cells
RevenueIncrease KRW 1,917,600,000,000 Won (2011)
Increase KRW 46,100,000,000 Won (2011)
Total equityKRW 233,300,000,000 Won (2011)
Number of employees
630
ParentPOSCO
Websiteeng.poscoenergy.com/_service/main.asp

POSCO Energy is the largest private energy producer in South Korea.[1][2] It is a member of the POSCO consortium, and was established on November, 1969, in South Korea as the nation's first private electricity supplier. The main businesses are in coal-fired power generation,[3] fuel cells,[1] liquid natural gas (LNG), and off-gas power.

With the completion of construction on the Incheon LNG combined cycle power plant in 2012, POSCO Energy will have 3,300 MW of power generation facilities.[citation needed]

It is headquartered in Seoul, South Korea.

History

1969–1999

  • 1969.03 Establishment of Kyung-In Energy Co., Ltd.(Joint venture of Hanwha Group & Union Oil U.S.)
  • 1972.02 Launched commercial operation of the LNG combined Power plant.(Incheon, Total 325MW)
  • 1983.12 Withdrawal of Union Oil's share from Kyung-In Energy Co., Ltd.
  • 1999.12 Establishment of Hanwha Energy Co., Ltd. (Hived off from Hanwha Group's Energy Dept.)[citation needed]

2000–2006

  • 2000.07 El Paso Natural Gas acquisition of a 50% share of the company
  • 2000.10 Company name changed to Korea General Energy Co., Ltd
  • 2002.01 Phased enlargement & launching LNG combined Power Plant (Incheon, total 1,800MW)
  • 2005.07 Acquisition of POSCO Co.Ltd. and Korea Energy Investment Ltd.(Acquired 50% each of Hanwha and El Paso's shares)
  • 2005.09 Company name changed to POSCO Power Corp.[4]
  • 2006.03 Acquisition of 100% of POSCO., Ltd.[5]

2007–present

  • 2007.02 Initiated Fuel Cell business (transferred from POSCO Co., Ltd.)[6]
  • 2008.09 Completion of Fuel Cell BOP manufacturing factory (Pohang, Yeonsan 100MW)[7]
  • 2008.12 Completion of LNG combined Power Plant unit 5&6 (Total 3,000MW)[8]
  • 2009.03 Inauguration of CEO Sung-sik Cho
  • 2009.06 Establishment of the Fuel Cell technology lab
  • 2009.11 Announcement of the "New Vision" for 40th anniversary
  • 2010.04 Completion of the Fuel Cell stack manufacturing factory (Pohang, Yeonsan 100MW)[9]
  • 2010.12 Signed to Nevada (U.S) solar power plant (Boulder City. 300MW)[10]
  • 2010.12 Completion of Gwangyang Off-gas Power Plant (Total 300MW)[11]
  • 2011.02 Launch of Coal-fired Power Project in Vietnam (Mong Doung 2 project. 1200MW)
  • 2011.03 Founding of the Women's Table Tennis Club [12]
  • 2011.03 Completion of the Fuel Cell stack manufacturing factory
  • 2012.01 1st Completion of Shinan solar photovoltaic power generation [13]
  • 2012.02 Launch of saprophytism power plant in Pohang[14]
  • 2012.02 Company name changed to POSCO Energy Corp.[15]
  • 2012.03 Inauguration of CEO Chang-Gwan Oh.

Operations

Subsidiaries

  • Pohang fuel cell Power Plant. Co,Ltd
  • PSC Energy Global. Co,Ltd
  • Sin-An Energy. Co,Ltd
  • Posco E&E. Co,Ltd[citation needed]

Power plant

  • Incheon LNG Power
  • Plant Unit 1 to 4
  • Plant Unit 5, 6
  • Gwangyang Off-gas power
  • Pohang Off-gas power[citation needed]

New projects

  • Green Project (solar power plant in Boulder City, Nevada, US / solar power plant in Sin-an City)
  • Global IPP Project (Vietnam Mong Duong II Coal-Fired Power Plant Project / Indonesia CSP Off-gas power Project)

References

  1. ^ a b Won-sup Yoon and Sun-ah Kim. "POSCO Energy secures fuel cell technology" MK News November 13, 2012. Retrieved on April 24, 2013.
  2. ^ Lee, Hyo-sik. "POSCO eyes bright future beyond crisis" Korea Times January 27, 2013. Retrieved on April 24, 2013.
  3. ^ Ji-hyeong Kim and Ha'eun Bang. "POSCO Energy acquires stakes in Indonesia's coal mine" MK Business News July 20, 2012. Retrieved on April 24, 2013.
  4. ^ "포스코, 한국종합에너지 지분 50% 인수". 한국경제.
  5. ^ "포스코, 포스코파워 지분 전량 인수". EBN 산업뉴스. Archived from the original on 2013-02-18.
  6. ^ "포스코파워, 연료전지 사업 본격 착수". 한국경제.
  7. ^ "대구경북의 핵심 경쟁력 '태양광•연료전지'". 매일신문.
  8. ^ "포스코, LNG복합발전소 착송". 매일경제.
  9. ^ "포스코, 발전용 연료전지 생산공장 착공". 한국경제.
  10. ^ "포스코파워, 美에 세계 최대 태양광발전소 설립". 경향신문.
  11. ^ "포스코파워, 광양 부생복합발전소 준공". 경향신문.
  12. ^ "인천시,포스코파워여자탁구단". 스포츠월드. Archived from the original on 2013-02-02.
  13. ^ "포스코파워, 신안 폐염전에 대규모 태양광발전소 준공". 이투데이.
  14. ^ "포스코파워, 포항에 부생복합발전소 착공". 매일경제.
  15. ^ "'포스코파워', '포스코 에너지'로 사명 변경". 매일경제.
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