POSCO INTERNATIONAL creates stable and long-term sources of revenue by developing state-of-the-art projects in such
fields as power generation, transmission and distribution, and new and renewable energy. We have the ability to carry
out the entire range of processes involved in these activities, from overseas power generation projects to
investments, financing, construction, and independent power producer (IPP) operations.
By concentrating our energies on emerging countries in Asia, Central and South America, Africa, and other regions with a high potential for growth, we will continue to create new opportunities for such IPP-based power generation projects as gas-fired combined cycle power plants, leveraging our overseas networks and taking advantage of our decades of expertise in project development, execution, operations and management. For example, we took part in an international bidding process in Myanmar in 2016, winning an order for an IPP project for a 70 MW gas-fired CCPP. We are planning to add to our presence there even more by securing new business rights, developing a large-scale, gas-fired CCPP IPP project, and building a total gas-to-power value chain.
POSCO INTERNATIONAL built a 25MW heavy fuel oil (HFO) power plant in the capital city of Papua New Guinea in 1999 that supplied 25% of the power needed in the metropolitan area. When the project ended in 2014, we proposed the creation of a rehabilitation, operation, maintenance, and management project for the plant that would extend our life and improve our performance, allowing it to prolong the length of the project by an additional five years.
- Participation : Started commercial operation in January 1999
- Equity : 100 %
- Capacity : 24MW
- Form of Business : BOOT (Build - Own - Operate - Transfer)
- Period : 15 years + 5 years