Oct 28, 2022
GE Gas Power (NYSE: GE) today announced the signing of a Memorandum of Understanding (MoU) with Korea’s leading Engineering, Procurement and Construction (EPC) company, DL E&C Co. Ltd. (DL E&C) and its subsidiary, CARBONCO, a company specialized in decarbonization, to jointly explore a roadmap for carbon capture technology integration with natural gas combined cycle plants in Asia and Oceania, powered by GE power technology. The collaboration aligns with GE’s commitment to support the region’s transition towards a lower-carbon future in the power generation sector, rapidly and with scale.
As part of the MoU, DL E&C, CARBONCO and GE will collaborate to advance the adoption of low carbon gas power plants by embedding carbon capture expertise. All three parties will identify and develop potential project opportunities for an existing or new combined cycle power plant, as well as conduct feasibility and front-end engineering design (FEED) studies to explore possible locations to implement CCUS technologies within a combined cycle power plant. GE together with DL E&C and CARBONCO will also jointly explore the commercialization of CCUS technologies integrated with combined cycle power plants for interested customers.
With the goal of deploying post combustion treatment of CO2 for power plants, powered by GE’s gas turbines across Asia and Oceania, GE will build on its recognized experience in advanced technology and control concepts to integrate combined cycle power plants with DL E&C and CARBONCO’s CCUS technology. With proven expertise in gas combined cycle plant engineering, operability, and plant integration, GE will lead full-scale integration with the goal of ensuring dispatchability, lower carbon intensity, high flexibility and reliability, and lower capital cost.
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“GE continues to play a critical role in supporting the advancement of the region’s energy goals, working alongside local players such as DL E&C, and we are especially focused on developing crucial breakthrough energy technologies such as carbon capture,” said Ramesh Singaram, President & CEO GE Gas Power Asia. “In Asia, there is a significant installed base of over 1,300 GE gas turbines that is providing electricity for customers and communities across the region. We are pleased this collaboration will pave the way for our customers to pursue the adoption of CCUS technologies in their GE gas turbines and significantly contribute towards addressing carbon emissions reduction in the power sector and support climate change commitments across Asia.”
Under the MoU, DL E&C and CARBONCO will collaborate towards deploying their technological capabilities and experience in CCUS which includes solutions that are currently able to manage carbon emissions of more than 3,000 tons per day (1 million tons per year), a standardized model based on industry needs, modularization that enables quality control and risk management, as well as methods to transform collected CO2 into valuable compounds such as liquid carbonic acid or carbon mineralization, for recycling or domestic and international storage.
“As a leader in decarbonization innovation, DL E&C and CARBONCO are advancing CCUS as a key enabler to address climate changes in the energy sector, while providing solutions that are viable and sustainable across the CCUS value chain” said with Chang-Min MA, CEO, DL E&C. “We look forward to working with GE to evaluate how this technology can improve opportunities for integrating carbon capture with gas power plants to help lower emissions for power plant operators.”
"GE holds advanced power generation technologies, and DL E&C and CARBONCO have the experience of commercializing Korea’s-first carbon capture plant and carbon capture plant design capabilities," said Jae-hyung Yoo, Chief Executive, Business Development Office at CARBONCO. "With the collaboration and synergy with GE, we plan to actively expand our decarbonization business overseas to help provide tailored solutions for carbon neutrality in Asia and Oceania.”
GE has been present in Asia for over a century, and today, GE Gas Power operates in over 22 countries with an employee base of over 4000+ employees. In Korea, GE is a major OEM in power generation in Korea and has been present for over 40 years, providing equipment and services to power the growth of Korea’s industry and economy. To support the Korean government's carbon neutrality initiative, GE is focusing on supplying its latest, most-efficient, heavy duty HA turbine technologies, to power projects that include Naepo District Heating Plant (in Naepo city), Tongyeong combined cycle power plant (in Tongyeong city), and Shinsejong Combined Cycle Power Plant (in Sejong city). As of September 2022, in Korea, there is an installed base of over 70 GE gas turbines with a power generation capacity of more than 14,000 MW. This is equivalent to the annual electricity requirement for 10 million Korean households. GE is committed to providing solutions that will help improve living standards across the country, while improving the efficiency, productivity, cost, and emissions of gas power generation.