Doosan Enerbility announced that it is venturing into the Korean domestic pumped-hydro storage market.
According to the draft plan of the Korean government’s 11th Basic Plan for Long-Term Electricity Supply and Demand, a 21.5GW long-duration energy storage system (ESS) will be needed by 2038 to ensure stable grid operation during the renewable energy expansion. Pumped-storage plants, the leading form of ESS, are expected to account for 5.7GW of installed capacity (a total of 9 units). The first project, led by Korea Hydro & Nuclear Power (KHNP), involves constructing a 500MW pumped-storage plant in Yeongdong, Chungbuk Province, KHNP’s first such project in 13 years. Additional projects are planned for Hongcheon, Pocheon, and Hapcheon, with new orders for plant components projected to reach trillions of Korean won.
Pumped-storage hydropower is a key energy storage solution that mitigates the intermittency and variability of renewable energy. It utilizes low-cost electricity during off-peak hours or excess solar power during the day, storing it for high-demand periods by transferring water between reservoirs at different elevations. This technology offers stable energy storage, long lifespans, and low fire risk. Globally, pumped-storage systems account for 66.5% of energy storage systems, according to the International Energy Agency (IEA).
“In light of the renewable energy expansion, pumped-storage hydropower is the most optimal solution for securing power grid stability,” said Jongdoo Kim, CEO of Doosan Enerbility’s Nuclear Business Group. “We will do our best to provide carbon-free energy solutions by supplying the main components for gas turbines convertible to hydrogen turbines, hydroelectric power plants, pumped-storage plants, and nuclear power plants.”
In 2019, Doosan Enerbility signed an MOU with Austria-based Andritz, a global leader in hydroelectric and pumped-storage plant components, to advance technological self-reliance in this sector. Doosan is also collaborating with KHNP to develop a 30MW hydro generator for hydroelectric power plants, aiming to expand the hydropower business domestically and globally.
