KOMIPO, Hyundai Heavy, Polaris Shipping, Siemens to jointly develop world’s first mobile power ship

2013_12_powership
An artist’s rendering of a mobile power ship. Source: Korea Herald.

The world’s first project to build a large-scale power generation ship was launched on Tuesday in Seoul as three Korean industrial giants and German-based Siemens signed a memorandum of understanding at Coex InterContinental Hotel, companies said. Three Korean the companies joining the project are Korea Midland Power Co., Hyundai Heavy Industries and Polaris Shipping.

The four companies formed the consortium to install an 880-megawatt power-generating facility on a floating storage regasification unit, or FSRU. The project will require a total investment of $940 million.

Target overseas markets will include the Philippines, Indonesia, Brazil and other countries where the power rate is high and power shortages have become a critical issue.  The partner firms expect that cost-saving power ships could appeal to overseas power markets since they can reduce civil complaints as they do not require large-scale sites on land and will cut costs required to install new power cables.

For full article, see Korea Herald.

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