Electricity Generating Public Company Limited or EGCO Group officially kicked off operations at its 19.8-MW Gangdong fuel cell power plant in South Korea on 1 October 2020.
Mr. Thepparat Theppitak, EGCO Group’s President, said, “The 19.8-MW Gangdong fuel cell power plant operated by Paju Energy Service Co. Ltd. (Paju ES), a company in which EGCO owns a 49% equity interest while SK E&S Co., Ltd. retains 51%, commenced the commercial operation on 1 October 2020. The power plant will sell electricity to Korea Electric Power Corporation (KEPCO), the sole off-taker of wholesale power generation in South Korea, through the Korea Power Exchange.”
“The new power plant would constantly generate more revenues for EGCO with its earning to be recognized in the 4th quarter this year onwards. Additionally, the power plant will generate incremental revenue from selling thermal energy and also receive renewable credits in the form of Renewable Energy Certificates (REC) with respect to its electricity generation output,” said Mr. Thepparat.
The Gangdong fuel cell power plant is located in Gangdong-gu, Seoul, South Korea. A fuel cell is an electrochemical device that combines hydrogen from natural gas and oxygen to produce electricity and heat. Fuel cells operate without combustion and it is considered as an option for a reliable source of power. Moreover, the power plant will enable the Paju Power Plant operated by Paju ES to fulfill a portion of its Renewable Portfolio Standard (RPS) obligations on a long-term basis.
About EGCO Group
According to the new power plant operation, EGCO Group has presently 29 commercially operating power plants in Thailand and overseas, with total equity contracted capacity of 5,485 MW, and 2 power projects under construction representing with total equity contracted capacity of 321 MW. 1 energy-related business project under construction is the extension of petroleum pipeline to the northeast of Thailand. EGCO Group’s power plants use various fuel sources, including natural gas, coal, biomass, hydropower, solar power, wind power, geothermal power and fuel cells, which are located in 7 countries, namely Thailand, Lao PDR, Philippines, Indonesia, Australia, South Korea and Taiwan.