GS Engineering & Construction is moving in earnest to enter the distributed energy market based on green ammonia.
GS Engineering & Construction said on the 10th that it signed a joint venture (JV) agreement with U.S. energy startup Amogy to jointly promote an ammonia-based distributed power generation business.
The goal is to preempt the zero-carbon power generation market by combining GS Engineering & Construction's plant EPC (engineering, procurement and construction) capabilities with Amogy's core technology.
Zero-carbon distributed power generation is a technology that produces electricity without carbon emissions by using green ammonia as fuel. It can generate power on small sites and is considered highly economical.
The two companies are preparing a 1 MW-class power plant demonstration project in the distributed energy specialized zone within the Yeongilman Industrial Complex in Pohang, North Gyeongsang Province, with a goal of breaking ground this year.
Based on this demonstration project, GS Engineering & Construction plans to expand the business scale to up to 40 MW. A GS Engineering & Construction official said, "Through this agreement, we will lead a new market of zero-carbon power generation based on green ammonia," and added, "Through successful demonstration and commercialization, we will lay the foundation for expanding our energy business portfolio."