South Korea to convert half of existing coal fleet to gas

• 3 years ago (2020-05-12)
• David Flin

Asia 846 Coal 273

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South Korea plans to shut a total of 15.3GW of coal-fired capacity by 2034, according to a draft of the country’s ninth basic electricity plan. Of this, 12.7GW will be switched to run on LNG. South Korean state-owned Kepco utilities currently operate 33.7GW of coal capacity across 56 units.

According to the draft plan, 30 of those coal units that reach 30 years of service by 2034 will be retired, 24 of which will be converted to run on natural gas. The draft plan did not specify which units would be converted, but are likely to comprise power plants already earmarked for conversion by the five individual state-owned utilities.

Korea East-West Power has proposed converting its 500MW Dangjin 3 and 4 in 2030.

Korea South East Power has proposed converting its 500MW Samcheonpo units 5 and 6 in July 2027 and January 2028 respectively, and its 800MW Youngheung units 1 and 2 in June and December 2034.

Korea Southern Power plans to convert a total of 3GW of ageing coal capacity across six units in 2026-31.

Korea Western Power’s 500MW Taean Units 3 and 4 have been proposed for conversion to LNG in December 2032, and Korea Midland Power’s 500MW Boryeong Units 5 and 6 in December 2024 and December 2025 respectively.

However, seven new coal-fired units are currently under construction with a combined capacity of 7.26GW. This means that South Korea’s installed coal-fired capacity will peak around 2024-25.