- Press Releases
- Here’s what Daesung Group has to say as we soar towards our 100 year vision
| Title | Establish the largest solar power plant in Korea | 2008.12.19 |
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FROM: Establish the largest solar power plant in Korea Daesung Group (Chairman Younghoon David Kim) announced Daegu City Gas Co., Ltd. (President Jung Chung Young), one of their main units was selected by the Ministry of Knowledge Economy as main company of 200kW tower-type solar thermal power plant development project on 19th December. Daegu City Gas stated that the Ministry of Knowledge Economy selected itself as main company for ‘2008 Strategic Technology Development project’ which is one of the ‘low carbon, green growth’ policies to improve technologies of promising new & renewable energy. They will proceed solar thermal power technology development project with Korea Institute of Energy Research and three partner companies; DIC, CMS Tech, and Mac Tech. This business whose budget is total KRW 11.6 billion for 3 years - KRW 7.15 billion from the government and KRW 4.5 billion from the private - will fund Korea’s first tower-type solar thermal power plant (60m high, 23,000m2). It will be the largest solar thermal power plant in Korea. They are searching for the location around Daegu and its neighborhood. The development of solar renewable energy used to focus on photovoltaic power system. After it was proved that solar thermal power’s efficiency and economical efficiency are better than photovoltaic power’s over the scale of 10MW, solar thermal power technology has developed rapidly for years. Business model with more than 10MW has been expanding through overall Spain, Europe and America. Also, it’s promoting to construct the large-scale solar thermal power plant near the equator, the Middle East and African desert areas which have abundant solar energy. According to the global trend, domestic research and technology development of solar thermal power is somewhat late than the advanced countries. Some had a small-scale 10kW solar thermal power system before, but this large-scale 200kW one is the first and the biggest in Korea. While photovoltaic power system converts photovoltaic to electrical energy directly through the photoelectric effect, solar thermal power system produces electrical energy using a reflecting mirror to make hundreds to thousands degree heat to be used as heating sources of various power generating cycle. Its expecting growth ratio will be 6.4% (EIA estimates) per year by 2020. At that time solar thermal power system will support around 2,000GW electricity world-wide. Advanced countries compete to preoccupy this market because they expect that the market will be huger, over KRW 5 trillion per GW power generating system. Daesung Group is planning to place their technology as the standard of small-scale solar thermal power system, and maintain the leading position as the first domestic solar thermal power company covering all ranges models by accumulating related technologies from the existing fossil fuel power system to the middle to large complex power system. In the long run, they expect to increase the efficiency of their power generation system by 17% by combining high technologies such as sun tracking, light collecting and etc. at their highest efficiency. Based on this technology, they plan to expand their business volume to get 1% of the world-wide solar thermal power market (20GW, KRW 100 trillion) by expending into overseas; Mongolia, Sahara desert and etc by 2020. Younghoon David Kim, Daesung Group chairman stated, “This Selection of Daegu City Gas for solar thermal power plant project is a fruit of sustained efforts to invest eco-friendly energy business and accumulate related technologies. Daesung Group will foster new & renewal energy business as a cash cow developing new energy projects such as solar thermal power, photovoltaic power, and wind power.” Daesung Group has constructed GEEP(Green Eco-Energy Park) Project on the land nearby Ulaanbaatar, the capital of Mongolia, adopting SolaWin system, self developed renewal energy solution. This project was selected as a flagship project of Asia Pacific by WEC(World Energy Council) |
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| No | Title | Date |
|---|---|---|
| 28 | Daesung Group Joins the Global Digi... | 2009.03.03 |
| 27 | 11th Annual National Power New Zeal... | 2009.02.28 |
| 26 | 11th Annual National Power New Zeal... | 2009.02.28 |
| 25 | Daesung Group selected as Mongolian... | 2008.12.27 |
| 24 | Establish the largest solar power p... | 2008.12.19 |
