Wind power is one of the fastest growing energy sources together with solar energy. Compared to conventional power plants, wind turbines require shorter construction period and lower operating costs as energy source is free. With the latest developments in technology, LCOE (levelized cost of energy) for wind power is close to that of conventional power plants.
DAELIM Industrial is presently developing the Jeju Hallim onshore wind power project in Korea while reviewing opportunities for developing offshore wind power projects in Europe. DAELIM Energy is considering joint business development with DAELIM Industrial and it is also reviewing various independent business opportunities in Korea and abroad, including Central Asia and the Middle East.
The biggest advantage of solar power plants is that they require relatively little time to build and are cheaper to operate, similar to that of wind power.
Solar power is a clean source of energy that is commonly used in developed countries in Europe and in the United States. In an effort to reduce global warming, more and more countries are adopting a mandatory quota system or receiving subsidies from their governments for solar energy generation.
DAELIM Energy is currently operating via its subsidiary Pocheon Power a company named Highway Solar which generates energy through a solar power system with a total generation capacity of 5.2MW. Furthermore, DAELIM Energy can collaborate with DAELIM I&S, a provider of EPC solutions, in building solar energy infrastructure. DAELIM Energy’s key business strategy is to review business opportunities in developed countries that have already demonstrated solid profitability.
Biomass-fueled plants use organic matter (sugarcane, wood, soybean, etc.) as fuel to generate electricity and their working principle is similar to that of thermal power plants. Biomass-fueled generation is an eco-friendly source of energy as recycling waste is a key part of the procedure. Business opportunities exist in parts of the world where biomass is readily available, including Southeast Asia. However, business is mostly restricted to regions that have access to government subsidies as costs for construction and generation are relatively high.
DAELIM Energy is currently developing the Poseung Biomass Combined and Cogeneration Power Plant project in Korea while looking for further business opportunities both home and in Southeast Asia. DAELIM Industrial’s expertise in EPC operations in thermal generation can be utilized while fuel provision can lead to the creation of synergy between DAELIM Energy and DAELIM Corporation, DAELIM Energy’s 2nd largest shareholder.