DL Energy established Poseung Green Power on September 13, 2014 in order to develop a cogeneration power plant in Poseung, Gyeonggi Province. The Plant is designed to generate up to 174.3 tons of steam and 43.2MW of electricity per hour using wood biomass as a fuel source. The Plant can raise its overall gross efficiency over 70% by generating both electricity and steam.

The construction was started in March 2016, and the Plant commenced its commercial operation in March 2018.

It sells electricity to Korea Electric Power Corporation and steam to companies operating within Asan National Industrial Complex in Poseung. Under the Korean government’s Renewable Portfolio Standard (RPS), the electricity generated by the Plant is eligible to receive a Renewable Electricity Certificate (REC) and be also sold to Korea Power Exchange market.

DL Energy fully exited Poseung Green Power Biomass Project in October 2022. It is the first project that DL Energy accomplished all cycles of a power plant project from development to operation and exit.

※ RPS System: A mandatory system that an independent power producer must generate and sell a quota of new and renewable energy from total amount of electricity generated. In case of failure to deliver the quota aforementioned, an IPP is obligated to purchase a Renewable Electricity Certificate (REC) from a third producer to fulfill its mandatory quota.

※ REC: A certification that proves that an IPP company has generated and sold electricity by using a new and renewable energy production facility.