Hanwha Energy
- LNG
- Energy storage systems (ESS)
- Renewable energy and energy solutions development
- Combined heat and power plants (cogeneration)
Beginning with a cogeneration business in 2007
Beginning with a cogeneration business in 2007, Hanwha Energy has diversified its business portfolio — including solar power, energy storage systems (ESSs) and LNG — to evolve into a retail energy business that offers a comprehensive set of energy solutions. Our advanced technology is at the core of who we are and how we can develop eco-friendly, highly efficient global energy markets with a forward-looking global energy model.
We operate cogeneration plants to provide a stable supply of high-quality electricity and ultra-high-pressure steam to companies in national industrial complexes across South Korea. By providing readily available power, our plants improve the competitive advantage of our off-takers. Our energy solutions consistently comply with South Korean government requirements for energy efficiency and the reduction of greenhouse gas emissions. Our relentless pursuit of advances in technology continually improves our existing solutions while we also seek new ones.
To build sustainable growth, we are diversifying and building businesses overseas in solar power generation, retail energy and more. We also operate solar power plants in the U.S., Mexico, Japan, Vietnam, Malaysia and India, and are building additional solar power plants in Spain and Italy. In the U.S., we are the first South Korean company to successfully implement a business model that links solar power generation with a retail energy business. In Spain, we are operating retail solar energy and distributed energy solutions businesses for business and consumer customers. We are also developing solar projects in Australia. Since our entry into the solar power generation and retail energy markets, we are expanding into distributed energy solutions services.
At the same time, we are actively promoting an energy solutions business that suits each value chain of the electric power industry based on ESS. We are conducting solar energy-connected ESS businesses in the U.S. and Mexico, and we plan to steadily expand solar businesses, beginning with ESS operation for frequency regulation (FR) in Ireland.
Korea Southern Power Company
We are also pursuing the clean energy source of LNG as we look to future growth engines and new opportunities. In South Korea, we are building a plant in Tongyeong city — a 1GW LNG power plant. Once complete, we will supply the LNG needed to power the plant and launch LNG terminal rental businesses. Overseas, we’re entering the gas-to-power market in Vietnam. To this end, we’ve formed a consortium with Korea Gas Corporation and Korea Southern Power Company to build LNG plants and LNG terminal businesses in Vietnam.
We aim to become the world’s leading renewable energy developer as we strengthen profitability in our cogeneration business, expand LNG business and sharpen competitiveness of solar and ESS businesses. In retail energy, we will provide differentiated services based on distributed energy solutions for each region. In addition, we will develop energy conversion technology, upgrade ESS and solar power technologies and secure digital and AI-based platform capabilities. Our diversified efforts will lead us to become the No. 1 global energy solutions provider.
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