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Kumho Petrochemical successfully extends Yeosu Energy Ⅱ
No. 19 Date registered : 2016.04.05
- Doubling the generation of steam and electricity allows Kumho Petrochemical Group to lead the growth of the chemical industry.

Along with the launch of Kumho Petrochemical Group, the construction of a cogeneration plant was also completed, which will serve as the motive power of growth in the chemical industry.

 
Seoul, on April 5, Kumho Petrochemical (Chairman and CEO Chan-koo Park) announced that a Yeosu Energy Ⅱ extension completion ceremony was held in the Yeosu National Industrial Complex, Jeollanam-do. From 2012, the extension of Yeosu Energy Ⅱ was considered the most prioritized project for the past four years, in which Kumho Petrochemical Group invested KRW 430 billion in total.
 
Yeosu Energy Ⅱ is a cogeneration plant designed to generate steam and electricity. Kumho Petrochemical installed two additional boilers, which produce 400 T/H steam, and a 145-MW/H generator for the purpose of setting up stable utilities. Consequently, it has secured the capacity for generating 1,710 T/H steam and 300 MW/H. Yeosu Energy Ⅱ, of which production capacity is twice higher than the existing one, can stably provide steam for Kumho P&B Chemicals and Kumho Mitsui Chemicals, which are undergoing extension, as well as for Kumho Polychem whose extension construction was completed last year.
 
Yeosu Energy Ⅱ reflects high concerns over the environmental impacts of fuels and their emission. To reduce greenhouse gas emissions, first, it increased the portion of green fuel, such as Tire-derived Fuel (TDF), and biomass (wood chips) free of carbon emission, accounting for 20%, and 10%, respectively, of the fuel composition. Second, its denitrification and desulfurization facilities are set up to minimize the emission of nitrogen and sulfur oxides into the atmosphere. Third and last, the installed air cooler ensures no discharge of hot wastewater into the ocean.
 
In the completion ceremony, Chairman and CEO Park remarked with a thank you message, “Yeosu Energy Ⅱ is a crucial strategic move for Kumho Petrochemical Group to develop into a specialized chemical corporation, and I would like to express my heartfelt gratitude to all executives and employees for their hard work and collaboration to meet eco-friendly requirements and find an optimized balance.”
 
Kumho Petrochemical anticipates that the extended Yeosu Energy Ⅱ will incur an additional annual turnover of KRW 200 billion or more. It will be able not only to provide steam for chemical affiliates and nearby chemical factories but also sell produced electricity to the Korea Power Exchange (KPX). In addition, the Renewable Energy Certificate (REC) will be granted to the electricity produced by means of Tire-derived Fuel (TDF) and biomass fuels that are classified as new and renewable energy, which will create an additional return in the REC markets.
 
Since jumping into the integrated energy supply business in 1997 with Yeosu EnergyⅠ (a cogeneration plant) for the self-provision of steam, the essential utility of petrochemicals production processes, Kumho Petrochemical has expanded its energy business as indicated in the construction of Yeosu Energy Ⅱ in 2009 and Korea Energy Power Plant (a photovoltaic power plant) in 2013. Furthermore, it is planning for vertical integration in the energy sector through aggressive inroads into biomass-based power generation and fuel business in the future. 
 

 

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