Posco Energy

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POSCO Energy
Industry Electricity
Founded 1969 (1969)
Headquarters Seoul, South Korea
Key people
Ko Seong-Sick
(Chief Executive Officer)
Products Electric power
LNG
fuel cells
Revenue Increase KRW 1,917,600,000,000 Won (2011)
Increase KRW 46,100,000,000 Won (2011)
Total equity KRW 233,300,000,000 Won (2011)
Number of employees
630
Parent POSCO
Website www.poscopower.co.kr

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[edit]

1969–1999[edit]

  • 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[edit]

  • 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[edit]

  • 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 photovoltatic 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[edit]

Subsidiaries[edit]

  • 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[edit]

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

New projects[edit]

  • 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[edit]

External links[edit]