KOSEP will utilize Emerson’s state-of-the-art automation, control, and instrumentation technologies in power plants in emerging markets
PITTSBURGH (June 22, 2010) – Emerson Process Management, a business of Emerson (NYSE: EMR), and South Korea South East Power Company (KOSEP) have signed a Memorandum of Understanding to collaborate on modernizing existing power plants and constructing new ones in South Korea, the Middle East, Africa, Southeast Asia, and Latin America.
Projections by the U.S. Energy Information Administration indicate that in the next 10 years, electricity generation will grow more than 25 percent globally – and more than 40 percent in the regions targeted by this agreement.
The alliance leverages Emerson’s expertise in power plant automation with KOSEP’s experience as a developer, operator, and owner of thermal and hydro power generation facilities. KOSEP currently provides more than 10 percent of South Korea’s electric-generating capacity.
Under the agreement, KOSEP will standardize on Emerson’s state-of-the-art automation, control, and instrumentation technologies, including its PlantWeb™ digital plant architecture with Ovation™ expert control system. The two companies will also exchange technology to help power plants improve boiler and turbine efficiency.
“We have worked with Emerson for many years and are familiar with their industry-leading technology and expertise,” said Son Kwang-Sig, general manager of KOSEP’s Power Generation Management Team. “Their participation will be a key differentiator for us as we expand our geographic reach.”
“We look forward to helping KOSEP meet the growing need for electricity in these rapidly developing areas,” said Steve Sonnenberg, president of Emerson Process Management. “This agreement will enable both companies to offer our mutual customers even greater capabilities for efficient, reliable power generation.”