EPC Energy Project
Doosan Heavy Industries & Construction announced on October 13 that it has secured a 950 billion won (US$836.64 million) contract to build a coal-fired thermal power plant “Subic Redondo” from Redondo Peninsular Energy Corporation, a private power provider in the Philippines. The latest deal came a week after it clinched a Fadhili combined cycle power plant project worth 1 trillion won (US$880.67 million) in Saudi Arabia on the 7th.
The Subic Redondo power plant will consist of two coal-fired units and will be built in an area, some 130km northwest of Manila, the capital of the Philippines. The company will be responsible for the engineering, procurement, and construction (EPC) part in the project. The construction of the first unit will begin within this year and will be finished in December 2020. The second unit construction is expected to start next year.
It is the first project secured by Doosan Heavy Industries in 10 years in the Philippines after the Cebu thermal power plant deal in 2007. The Subic Redondo power plant will be the first 300㎿ power generator using the circulating fluidized-bed (CFB) boiler technology in the nation, attracting more attraction. Doosan Heavy Industries has also become the first Korean firm to construct a large CFB boiler overseas. Unlike existing coal-fired boilers, the CFB boiler is an eco-friendly technology that reduces pollutants, including nitrogen oxide and sulfur oxides, by completely burning coal through continuous circulation. It can thoroughly burn even low-quality coal so it can also reduce fuel costs. Only few companies around the world, such as Foster Wheeler Energy and Alstom, own the technology to build a large CFB boiler with the production capacity of more than 300MW.
Doosan Heavy Industries secured the CFB boiler source technology by acquiring its German-based subsidiary, Doosan Lentjes, in 2011. With the latest deal, the company expects to create a synergy effect driven by the takeover in the global CFB boiler market in earnest.