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DL E&C Donuimun D Tower headquarters building. (Photo = DL E&C) |
[Alpha Biz= Reporter Kim Jisun] DL E&C announced on the 21st that it has secured a construction contract for the Yeongdong Pumped Storage Power Plant, which is being developed by Korea Hydro & Nuclear Power in Yeongdong, Chungbuk.
The Yeongdong Pumped Storage Power Plant will be built in Sangchon-myeon and Yanggang-myeon in Yeongdong-gun, Chungbuk. Once completed in the second half of 2030, it will produce 500 MW of power, enough to supply approximately 110,000 households. DL E&C will be responsible for civil engineering work, including the construction of upper and lower dams, an underground power plant, and a waterway tunnel. The total project cost is 503.4 billion won.
Pumped storage involves using cheap electricity during off-peak hours or electricity generated from renewable sources to pump water from a lower dam to an upper dam for storage. When power demand increases, the water is released from the upper dam to generate electricity. This method is gaining renewed attention for its ability to overcome the intermittency of renewable energy sources, its long lifespan of 40-60 years, and its high stability and energy storage capacity.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
