Hyundai Motor to build LNG plant for power supply and emissions targets

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Vehicles for export are lined up on a dock inside the Hyundai Motor Group’s Ulsan plant. HMG

Hyundai Motor Group will construct a liquefied natural gas (LNG) cogeneration facility inside its automobile manufacturing plant in Ulsan to ensure stable power supply while reducing energy consumption and greenhouse gas emissions. greenhouse.

According to the automaker on Monday, it plans to digest more than 70% of the annual electricity used at the country’s largest auto plant through the new LNG power plant. The new facility, comprising two gas turbines and one steam turbine, will have a generating capacity of 184 megawatts, replacing approximately 72% of the electricity received from the Korea Electric Power Corporation and 59% of the steam generated by 15 existing boilers. .

Each year, the Ulsan plant consumes 1.29 million megawatt hours of electricity and 710,000 metric tons of steam for manufacturing.

It is the first time that Hyundai Motor has built a full-scale autonomous power plant inside the manufacturing facility. The Ulsan plant produces around 1.5 million cars a year, the largest production volume among the automaker’s plants globally.

“In line with the government’s energy policy direction, the introduction of a private cogeneration facility will reduce greenhouse gas emissions, improve the stability of demand and supply, and also ensure the feasibility economical,” the automaker said in a statement. evaluation report submitted to the ministry.

The Korean automaker’s construction of an LNG power plant is also in line with Hyundai chief Chung Euisun’s business goal announced last September on carbon neutrality. Chung announced that the company will produce zero carbon emissions during the entire vehicle manufacturing process by 2045.

Market experts say the automaker is expected to attribute a reduction in its greenhouse gas emissions of an additional 30%, as well as a reduction in its electricity bills thanks to the new LNG cogeneration facility.

“Because Hyundai Motor consumes thousands of gigawatts of electricity each year, it is more cost-effective in the long run for the automaker to generate power itself,” an industry insider said.

Construction will begin later this year, with a target of completion in 2025. The automaker said the project will start as soon as the Environment Ministry’s environmental impact assessment process is complete.

In addition to Hyundai Motor Group, SK Group’s chip-making subsidiary, SK hynix, last year began construction of an LNG-based cogeneration facility with a capacity of 585 megawatts per hour in Cheongju, South China. North Chungcheong Province.

By Kim Da-sol (ddd@heraldcorp.com)


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