SK Hynix Inc. will build liquefied natural gas (LNG)-based thermal power plants to supply electricity for its semiconductor production facilities.
The company announced on March 4 that it will construct its own power generating facility “Smart Energy Center” near its semiconductor plants in Icheon, Gyeonggi Province, and Cheongju, North Chungcheong Province, by 2022. It will break ground next year and invest a total of 1.68 trillion won (US$1.49 billion) over the next three years.
An official from SK Hynix said, “Demand for electricity is expected to grow steadily in the future due to an increase in production facilities, including construction of new plants. As we need to secure a stable electricity supply in the long term, we are planning to build LNG-based thermal power plants to diversify sources of electricity supply.”
Previously, SK Hynix announced its plans to create a new semiconductor cluster in Yongin, Gyeonggi Province, and make continuous investments in its existing plants in Icheon, Gyeonggi Province, and Cheongju, North Chungcheong Province, as well. The company plans to invest 20 trillion won (US$17.75 billion) over the next 10 years in building the M16 plant and research centers in Icheon. It will inject 35 trillion won (US$31.06 billion) in Cheongju for the next 10 years, to expand the production capacity of the M15 plant, which has started operation from last year.