GE JV awarded $320m South Korean transmission contract

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GE JV awarded $320m South Korean transmission contract

GE Power has been awarded a $320 million contract through its joint venture, KAPES, by Korea Electric Power Corporation (KEPCO) to provide equipment and expertise to deliver a 4 GW HVDC transmission link from the power complex located East of South Korea, to Seoul’s metropolitan area that represents around 40% of global Korean energy demand.

With 51.3 million people2, South Korea has experienced nearly a 35% growth3 in energy demand in the last decade alone. The country faces the ambitious challenge of providing efficient energy to its densely populated areas. This new HVDC project will increase the stability and reliability of the Korean electrical transmission grid by adding new routes for power supply.

GE together with KAPES will design and supply the overall HVDC system, a 500 kV HVDC Bipole with two converter stations, including valves, cooling system, converter transformers, filters, switchyard, and control system. The technology is the optimal answer to resolve Korea’s environmental constraints. This HVDC system has a reduced environmental impact compared with traditional alternating current (AC) system.

GE Power has in the past successfully delivered three important HVDC reference projects in Korea. GE provided the original 300 MW HVDC Bipole link for the point-to-point submarine interconnection linking South Korea’s Jeju Island across 101 kilometers with the mainland in the late 1990s. In 2009, GE was awarded and delivered a second project to supply the new converter stations for the 400 MW HVDC Bipole scheme. In 2014, through its KAPES joint venture, GE was awarded the 1.5 GW Buk-Dangjin–Godeok HVDC connection to transmit energy from the Dangjin power plant west of South Korea, to the densely populated area of Pyeongtaek (Godeok) and Seoul Metropolitan, about 35km east of Dangjin. The project is currently in progress and will be completed end of 2019. The KAPES joint venture between GE and KEPCO is a long term strategic relationship to co-develop HVDC projects and increase Korean transmission grid capabilities based on GE technology.

Source: www.ge.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.