Established on September 13, 2014, Poseung Green Power operates a biomass cogeneration plant in Poseung Industrial Complex, Pyeongtaek, Gyeonggi-do.
The Poseung biomass cogeneration plant was designed on CFBC boiler of 174.3 tons/hour scale and Steam turbine of 43.2MW.
We started commercial operation in March 2018 and are selling electricity to Korea Power Exchange. We are also engaged in the collective energy business that supplies steam to companies in the Asan National Industrial Complex in Poseung.
Electricity produced at biomass cogeneration plant is authorized as renewable energy so that Renewable Electricity Certificate (REC) obtained with power generation in accordance with the Renewable Portfolio Standard (RPS) system of the Korean government, is also sold to large scaled power generation companies in demand on REC.
Poseung Green Power has a stable business portfolio of electricity, steam, and REC sales. We also secure stability of revenue by signing long-term REC supply contracts with several corporations in demand.
Meanwhile, LX International, which had been seeking additional independent power producers (IPP) projects based on its various domestic and overseas power generation business experiences and capabilities, successfully entered the domestic renewable power generation business through Poseung Green Power in October 2022.
Starting with Poseung Green Power, LX International plans to further strengthen its renewable power business portfolio in line with the eco-friendly power generation trend and the increasing demand for RE100 implementation.
※ RPS System: A mandatory system that power generation company over 500MW capacity must generate renewable electricity up to a certain portion out of total amount of generated electricity. In case of failure to deliver the quota aforementioned, the company is obligated to purchase a Renewable Electricity Certificate (REC) from a third producer to fulfill its mandatory quota.
※ REC: A certification which proves that power generation corporation has generated and supplied electricity by using a new and renewable energy production facility.
|Company||Poseung Green Power|
|Location||Asan National Industrial Complex, Poseung, Gyeonggi, Korea|
|Generation Type||Combined Heat and Power generation|
|Fuel||Wood Chips and Unused Forest Biomass|
Steam - 174.3ton/h
Electricity - 43.2MW
|Commercial Operation||March, 2018|
|Major Shareholder||LX International (63.34%)|