GE Power opens plant in Korea
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GE Vice Chairman John Rice speaks during a ceremony marking the opening of GE Power’s plant in Changwon, South Gyeongsang Province, Tuesday. The plant produces heat recovery steam generators, a core component of combined cycle power plants that recycle thermal energy from gas turbines to produce electricity. / Courtesy of GE Korea
By Lee Hyo-sik
General Electric (GE) opened a manufacturing plant for steam generators in Korea, a key component of combined cycle power plants, the company said Tuesday.
GE Power held a ceremony to mark the opening of the heat recovery steam generator (HRSG) production facility in Changwon, South Gyeongsang Province.
Last August, the company acquired the site from Doosan Engineering & Construction, which was reeling from snowballing debt, for 300 billion won ($250 million) to capitalize on the growing combined cycle power plant market in Asia.
HRSG is a core component of a combined cycle power plant that recycles thermal energy from a gas turbine to produce electricity for a steam turbine.
GE said it has successfully transformed the plant into a state-of-the-art smart factory that meets its high manufacturing standard. The company has also added research and development, and design functions to the site, which will serve as its global HRSG business hub.
“GE Changwon’s capabilities and expertise in HRSG engineering and project execution, combined with our leading technologies and global footprint, will lead to better power solutions for customers in Korea and around the world,” GE Vice Chairman John Rice said at the ceremony.
The global demand for HRSG has more than doubled in recent years in line with the growing appeal of combined-cycle power plants as a higher efficiency power generation solution, according to GE Korea CEO Chris Khang.
He said GE Power will continue to expand the Changwon plant, which exports more than 70 percent of its output.
“GE has been operating in Koea for more than 40 years, and has been one of the major multinational corporations in Changwon. We are excited to open this innovative facility and contribute to the development of the regional economy,” Khang said. “The facility is expected to further enhance Korea’s manufacturing and engineering capabilities in the power generation industry. GE will nurture the Changwon plant as our HRSG hub.”