|Aerial view of Sihwa Tidal Power Plant in Ansan, Gyeonggi Province / Courtesy of Daewoo E&C|
By Kim Jae-heun
Daewoo E&C is strengthening its investment in environmentally friendly and renewable energy sectors based on its technological competitiveness and construction experience as local firms work to achieve a zero-carbon society here.
Sihwa Tidal Power Plant in Ansan, Gyeonggi Province, erected by Daewoo E&C, is the world's largest tidal power plant built for the first time in Korea and the second time in the world. It can generate up to 254,000 kilowatts of electricity at a time, which is 14,000 kilowatts more than France's Lens power plant can produce.
Tidal power generation is renewable energy powered by the natural rise and fall of ocean tides and currents. It produces electricity at lower cost than solar or wind power generation and it has a larger production scale as well.
In addition, it is barely affected by weather conditions and it improves the water quality by circulating the water in Sihwa Lake with the sea.
Daewoo E&C has been aiming to energize the local offshore wind market for many years. It has been continuously developing its business capabilities in the field. In May 2021, the company also participated in the land wind power generation project in Yeongwol, Gangwon Province.
As a result, Daewoo E&C is on the verge of winning the order to build an offshore wind power plant in Nakwol Township, South Jeolla Province this year, which is worth 1.7 trillion won ($1.26 billion).
Prior to this, the construction firm also signed a business agreement with C&I Leisure Industry and SK D&D to jointly promote business-wide tasks such as investments, financing and licensing of the Gulupo Island Offshore Wind Power Generation Project in Dec. 2021.
"As renewable energy businesses are a foundation for environmental protection around the world, we will continue to accumulate our related technologies and experience to become a global construction firm," a Daewoo E&C official said.