Doosan Heavy clinches $562 mn Guam power plant deal

Doosan Heavy Industries & Construction Co. has clinched an order to build a combined cycle power plant in Guam from a consortium of Korea Electric Power Corp. (KEPCO) and Korea East-West Power Co. (EWP), the company announced on Dec. 21.

The Guam Ukudu power plant deal is valued at around 620 billion won ($562.4 million). With a power generation capacity of 200 megawatts (MW), the combined cycle power plant will be constructed in Dededo, about 5 kilometers northwest of Antonio B. Won Pat International Airport.

The Guam Power Authority has mandated the KEPCO-EWP consortium as the project developer. Doosan Heavy will oversee the entire process of engineering, procurement and construction. The company will also install a 25MW energy storage system (ESS) to offer stable power supply.

Doosan Heavy plans to complete the project by 2024.

Upon completion, the project will become the largest base-load power plant in Guam, accounting for around 40% of the total power supply.

“We plan to strengthen our efforts in penetrating overseas markets for combined cycle power plants,” said Park In-won, the chief executive of Doosan Heavy’s Plant EPC Business Group.

In November last year, the KEPCO consortium entered into an agreement with the Guam authorities to sell power for the Ukudu project. According to local media reports, KEPCO is expected to fetch around 2.3 trillion won ($2.1 billion) in power sales over the next 25 years.