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According to HDC, the power plant entered into commercial operations on October 29.
HDC developed the private project worth about 1.3 trillion Korean won ($942 million) in cooperation with compatriot Hanwha Energy.
Back in 2021, Tongyeong Ecopower signed a contract worth about 800 million won with Hanwha E&C for the engineering, procurement, and construction of the LNG power plant at the Sungdong Shipbuilding site in Tongyeong.
Consisting of two gas turbines and one steam turbine, the power plant has a capacity of 1,012 MW.
HDC noted that the gas turbines will be able to use a mix of gas and hydrogen in the future.
The group said this commercial launch will contribute to South Korea’s energy security by stabilizing the power supply in preparation for winter power peaks.
According to HDR, the power will stabilize the power demand of local industries in the future as it is adjacent to large-scale industrial complexes in the Gyeongnam region.
The group said this is the first combined cycle power plant in South Korea to be equipped with LNG storage facilities.
The project features one 200,000-cbm LNG storage tank.
It will also use LNG tanks and regasification facilities from the adjacent Kogas-operated Tongyeong LNG terminal, enabling efficient utilization.
In 2022, France’s TotalEnergies signed a long-term deal to supply LNG to Hanwha Energy.
Under the 15-year deal, TotalEnergies will supply 600,000 metric tons of LNG per year, starting in 2024, from its global LNG portfolio.
TotalEnergies said at the time the South Korean firm would receive the supplies at the Tongyeong regasification terminal, and then supply the 1 GW power plant next to the terminal.