Hyundai Engineering is achieving significant milestones in the energy sector.
On September 10, Hyundai Engineering announced that it has been selected as the preferred bidder for the 'Yongin Combined Heat and Power Plant Construction Project' commissioned by Korea Midland Power and SK Innovation E&S, as well as the 'Shin Honam Combined Cycle Power Plant Construction Project' commissioned by Korea East-West Power.
The 'Yongin Combined Heat and Power Plant Construction Project' involves the establishment of a 1,050 MW power generation facility and a 517 Gcal/h heat production facility in Yongin, Gyeonggi Province. Hyundai Engineering will oversee the design, procurement, and construction (EPC) of the project, which has a total budget of approximately 1.75 trillion won. Construction is set to begin in September 2026, with completion expected by September 2030.
Combined heat and power generation produces electricity using LNG while recovering heat for district heating or industrial steam, reducing energy loss compared to conventional power plants.
The 'Shin Honam Combined Cycle Power Plant Construction Project' will build a 500 MW LNG combined cycle power plant on the site of the Honam Thermal Power Plant in the Yeosu National Industrial Complex, Jeollanam-do. Hyundai Engineering will serve as the lead company in the consortium, responsible for design and major equipment procurement. Posco E&C will handle the procurement and construction of auxiliary equipment, with a total project cost of approximately 630 billion won. Construction is scheduled to start in June 2027 and be completed by May 2030.
Combined cycle power plants enhance efficiency by combining gas and steam turbines. The gas turbine operates on LNG, and the high-temperature exhaust gases produced are used to generate additional steam, which is then utilized for steam turbine generation, improving energy utilization.
Both projects are being considered for the application of hydrogen co-firing and hydrogen-only combustion methods, using LNG as the primary fuel immediately after completion, with plans to transition to hydrogen co-firing and eventually hydrogen-only combustion in the long term.
A Hyundai Engineering official stated, “This achievement reflects the market's trust in Hyundai Engineering's technological capabilities and project execution in the energy sector. We will continue to contribute to national power stability and strengthen our business in next-generation energy infrastructure projects, including combined cycle and combined heat and power generation.”
Meanwhile, Hyundai Engineering is also expanding its energy business beyond power plants. In May, it began construction on the Hillsboro solar power project in Texas, USA. The renewable energy produced there will be supplied to major North American facilities of the Hyundai Motor Group, including Hyundai Motor, Kia, and Hyundai Mobis.
* This article has been translated by AI.
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