Posco Energy

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.

POSCO Energy
IndustryElectricity
Founded1969 (1969)
Headquarters
Seoul
,
South Korea
Key people
Ko Seong-Sick
(Chief Executive Officer)
ProductsElectric power
LNG
fuel cells
Revenue KRW 1,917,600,000,000 Won (2011)
KRW 46,100,000,000 Won (2011)
Total equityKRW 233,300,000,000 Won (2011)
Number of employees
630
ParentPOSCO
Websitewww.poscopower.co.kr

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.

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.)

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 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

Subsidiaries
  • Pohang fuel cell Power Plant. Co,Ltd
  • PSC Energy Global. Co,Ltd
  • Sin-An Energy. Co,Ltd
  • Posco E&E. Co,Ltd

Power plant
  • Incheon LNG Power
  • Plant Unit 1 to 4
  • Plant Unit 5, 6
  • Gwangyang Off-gas power
  • Pohang Off-gas power

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. 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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