Posco Energy

POSCO Energy is the largest private energy producer in South Korea.^[1][2] It is a member of the POSCO consortium, and was established in November 1969, in South Korea as the nation's first private electricity supplier. The main businesses are in coal-fired power generation,^[3] fuel cells,^[1] liquid natural gas (LNG), and off-gas power.

POSCO Energy

Industry	Electricity
Founded	1969 (1969)
Headquarters	Seoul , South Korea
Key people	Ko Seong-Sick (Chief Executive Officer)
Products	Electric power LNG fuel cells
Revenue	KRW 1,917,600,000,000 Won (2011)
Net income	KRW 46,100,000,000 Won (2011)
Total equity	KRW 233,300,000,000 Won (2011)
Number of employees	630
Parent	POSCO
Website	eng.poscoenergy.com/_service/main.asp

With the completion of construction on the Incheon LNG combined cycle power plant in 2012, POSCO Energy will have 3,300 MW of power generation facilities.^{[citation needed]}

It is headquartered in Seoul, South Korea.

According to the group policy, it was merged into POSCO International as of January 1, 2023.^[4]

History

1969–1999

• 1969.03 Establishment of Kyung-In Energy Co., Ltd.(Joint venture of Hanwha Group & Union Oil U.S.)
• 1972.02 Launched commercial operation of the LNG combined Power plant.(Incheon, Total 325MW)
• 1983.12 Withdrawal of Union Oil's share from Kyung-In Energy Co., Ltd.
• 1999.12 Establishment of Hanwha Energy Co., Ltd. (Hived off from Hanwha Group's Energy Dept.)^{[citation needed]}

2000–2006

• 2000.07 El Paso Natural Gas acquisition of a 50% share of the company
• 2000.10 Company name changed to Korea General Energy Co., Ltd
• 2002.01 Phased enlargement & launching LNG combined Power Plant (Incheon, total 1,800MW)
• 2005.07 Acquisition of POSCO Co.Ltd. and Korea Energy Investment Ltd.(Acquired 50% each of Hanwha and El Paso's shares)
• 2005.09 Company name changed to POSCO Power Corp.^[5]

• 2006.03 Acquisition of 100% of POSCO., Ltd.^[6]

2007–present

• 2007.02 Initiated Fuel Cell business (transferred from POSCO Co., Ltd.)^[7]

• 2008.09 Completion of Fuel Cell BOP manufacturing factory (Pohang, Yeonsan 100MW)^[8]

• 2008.12 Completion of LNG combined Power Plant unit 5&6 (Total 3,000MW)^[9]

• 2009.03 Inauguration of CEO Sung-sik Cho
• 2009.06 Establishment of the Fuel Cell technology lab
• 2009.11 Announcement of the "New Vision" for 40th anniversary
• 2010.04 Completion of the Fuel Cell stack manufacturing factory (Pohang, Yeonsan 100MW)^[10]

• 2010.12 Signed to Nevada (U.S) solar power plant (Boulder City. 300MW)^[11]

• 2010.12 Completion of Gwangyang Off-gas Power Plant (Total 300MW)^[12]

• 2011.02 Launch of Coal-fired Power Project in Vietnam (Mong Doung 2 project. 1200MW)
• 2011.03 Founding of the Women's Table Tennis Club ^[13]
• 2011.03 Completion of the Fuel Cell stack manufacturing factory
• 2012.01 1st Completion of Shinan solar photovoltaic power generation ^[14]

• 2012.02 Launch of saprophytism power plant in Pohang^[15]

• 2012.02 Company name changed to POSCO Energy Corp.^[16]

• 2012.03 Inauguration of CEO Chang-Gwan Oh.

Operations

Subsidiaries

• Pohang fuel cell Power Plant. Co, Ltd
• PSC Energy Global. Co, Ltd
• Sin-An Energy. Co, Ltd
• Posco E&E. Co, Ltd^{[citation needed]}

Power plant

• Incheon LNG Power
• Plant Unit 1 to 4
• Plant Unit 5, 6
• Gwangyang Off-gas power
• Pohang Off-gas power^{[citation needed]}

LNG terminal

• Gwangyang LNG Terminal^[17]

New projects

• Green Project (solar power plant in Boulder City, Nevada, US / solar power plant in Sin-an City)
• Global IPP Project (Vietnam Mong Duong II coal-fired power plant project / Indonesia CSP off-gas power project)