Latest news with #SohnSeung-woo
Korea Herald
27-05-2025
- Business
- Korea Herald
Doosan Enerbility secures W340b deal for Saudi power plant projects
Korean energy solutions provider Doosan Enerbility announced Tuesday that it has secured contracts totaling 340 billion won ($248.7 million) to supply key power generation equipment for two combined cycle gas turbine power plant projects in Saudi Arabia. Under two recent agreements, the company will supply four 650-megawatt steam turbines and four 540-megawatt power generators for the Ghazlan 2 and Hajar combined cycle power plant expansions — two turbines and two power generators for each plant, the company said. Both projects are located in Saudi Arabia's eastern region, approximately 400 kilometers from the capital, Riyadh, and are scheduled for completion by 2028. According to Doosan Enerbility, the agreements were signed with a joint engineering, procurement and construction consortium comprising Spain's Tecnicas Reunidas and Egypt's largest construction firm, Orascom Construction. 'Backed by the trust and technological expertise we have built in the Middle East over more than 40 years, we continue to secure new projects in the region,' said Sohn Seung-woo, CEO of Doosan Enerbility's Power Service Business Group. 'We are committed to delivering high-quality products on time and will do our utmost to strengthen customer confidence and secure follow-up projects in the future.' With this latest deal, the company has racked up a total of nine steam turbine orders in Saudi Arabia since 2024. Leveraging its expertise in this technology, Doosan Enerbility has held the top global market share for ultra-large steam turbines — units with capacities over 300 megawatts — over the past five years, accounting for 33.1 percent of the 22.1 gigawatts installed worldwide.
Korea Herald
29-04-2025
- Business
- Korea Herald
Doosan Enerbility wins W130b deal to convert Saudi oil plant to gas
Korean energy solutions provider Doosan Enerbility announced Tuesday that it has signed a 130 billion won ($90.4 million) contract to convert an oil-fueled power plant in Saudi Arabia to run on natural gas. Under the agreement with Saudi Arabia's state-run Power and Water Utility Co. for Jubail and Yanbu — known as Marafiq — Doosan Enerbility will supply key components for gas power generation at Yanbu 2 Power Plant, on the west coast of the country. Doosan will also support test operations after the conversion. The project is scheduled for completion by 2028. Yanbu 2 Power Plant is a major power source for Yanbu Industrial City, Saudi Arabia's second-largest industrial complex, which also includes King Fahd Industrial Port — the largest petrochemical export outlet in the country. The project is expected to reduce carbon emissions by approximately 25 percent without compromising the plant's 825-megawatt output, while also contributing to a reduction in the overall carbon intensity of industrial activities in Yanbu. 'Fuel conversion is gaining attention as a cost-effective and lower-carbon power solution, as it reuses a significant portion of existing infrastructure and minimizes plant downtime,' said Sohn Seung-woo, CEO of Doosan Enerbility's power service business group. 'We are committed to delivering high-quality solutions on schedule, ensuring a stable electricity supply to the Yanbu industrial complex.' According to Doosan Enerbility, Saudi Arabia is expected to order approximately 1.4 gigawatts of fuel conversion projects annually by 2027. Building on its experience in leading fuel transition projects in countries such as Chile and Vietnam, Doosan Enerbility is positioning itself to win more fuel conversion contracts in Saudi Arabia. Additionally, the company has been expanding its presence in Saudi Arabia's rapidly growing power generation industry, with up to 6 gigawatts of new power generation capacity expected to be added to the country's power grid annually through 2028. Over the past five years, Doosan Enerbility has secured projects in Saudi Arabia worth more than 6.7 trillion won, including an 890 billion won contract signed in March for a 1,800-megawatt combined-cycle gas plant located 150 kilometers northeast of Riyadh, the country's capital.
