Today among IPPs (Independent Power Producers) Meiya Power Company Limited (MPC) has become the award-winning industry leader across the northern part of Asia. Many years of solid expertise in the development, financing, construction and operation of high quality power project has allowed the company to provide sustainable and reliable energy sources across the region. Founded in 1995, MPC has an impressive mixed and diversified power production portfolio focusing on green and renewable energy sources from fuel cell plant in
Korea to clean natural gas plants in China.
In fact, in China alone MPC is today the largest foreign-owned IPP based on attributable installed capacity and has achieved profitable growth at a compound annual rate of around 36% between 2002 and 2010. A testament to MPC’s growing prestige within the industry is the fact that they won The Environmental Company of the Year Award at the Asian Power Awards 2010.
MPC’s world-class management staff and decades of unparalleled success make this exciting company ideally poised to take advantage of future opportunities arising in north Asia’s ever expanding power sector. Moreover, another very important factor in power generation today is environmental protection and energy efficiency. With this in mind, Chairman and CEO of MPC, Mr. Manuel Perez says “We are committed to providing sustainable, reliable and affordable energy to meet the rising demand throughout the region while protecting the environment. To this end, MPC has been pursuing a business strategy of fuel diversification, which is not only a good risk management strategy but also reflects our dedication to minimise the environmental impact of power generation. Moving forward we will be focusing even more on renewable energy”.
What has made MPC such a strong industry leader in such a short time? Mr. Perez believes people are MPC’s most important and strategic asset. My management style is to build a strong team and promote continuous team-building in a collaborative environment.
While the company is currently working on many major projects throughout northern Asia, the MPC Yulchon Fuel Cell Plant is garnering particular attention for it advanced technology applications, leading the way for a new future in power generation.
MPC Yulchon Fuel Cell Plant
Innovating with promising technologies for tomorrow
Built and managed by MPC Yulchon Generation Company Limited (MYGEN) in South Korea, a wholly owned subsidiary of Meiya Power Company Limited (MPC), the MPC Yulchon Fuel Cell Plant is blazing new trails in power generation for years to come. Fuel cells represent one of the few available low carbon technologies that can be brought to market in the short term, which in turn, helps countries to achieve their climate and energy policy targets.
One of Asia’s and the world’s largest fuel cells
The MPC Yulchon Fuel Cell Plant is situated inside the Yulchon gas-fired combined cycle plant site and comprises two 2.4MW of molten carbonate fuel cells (model type: DFC3000) that use natural gas as fuel. It has been in operation since November 2009, supplying valuable energy to the main grid. Boasting a combined power generation of nearly 5MW, the MPC Yulchon Fuel Cell is one of the largest on-grid fuel cells in Asia and also one of the largest in the world. Since MPC commence operation, Yulchon Fuel Cell has been very reliable and offered an outstanding net capacity factor of over 90%.
Among the DFC power plant’s fleet of fuel cells, the DFC3000 system is by far the largest. The innovative design and advanced technology used in it manufacture make it the ideal eco-friendly base load power for grid support, eliminating the need for costly investments in transmission and distribution networks. In addition, because this fuel cell plant offers low impact and quiet operation advantages, it’s the perfect choice in areas where conventional power generation plants can’t be built or are opposed by the public for environmental reasons.
How do fuel cells work?
A fuel cell is an electrochemical power source that works by converting hydrogen and oxygen into electricity and heat but leaving behind only small amounts of emissions. Fuel cells help in the global effort to reduce greenhouse gases and pollutants. With an overall efficiency of 70%, the fuel cells built by MPC Yulchong are twice as efficient as conventional coal-fired generation pants and three times more efficient than Solar PV panel power generation methods.
The Shanghai Weigang Energy Project
Converting waste into clean power
Another example of Meiya Power’s commitment to energy efficiency is MPC Shanghai Weigang Energy Project (Weigang), it is a 50MW power plant jointly owned and operated by Meiya Power Company Ltd. and Baosteel Group Shanghai No.1 Steel Co., Ltd. This pioneering, environmentally friendly power plant recycles waste gas from a steel mill’s blast furnace and uses it as fuel to produce electricity. Traditionally the waste gas would be discharged into the atmosphere, adding to pollutants in the air across the greater Shanghai area.
Weigang holds the title of being the first power plant in China to burn 100% low heat value blast furnace gas (less than 10% heating value compared with natural gas) without the need for any auxiliary fuel source. The plant includes a high temperature, high pressure boiler and a 50MW steam turbine generator. It began commercial operations in 2000 to generate electricity for the steel factory.
Efficiently utilising waste gas in this way allows this project to avoid burning over 176,000 tons of coal per year. This is a significant contribution in helping to drastically lower CO2 and SO2 emissions over the city of Shanghai. The Weigang plant management system has also earned certification of international standard ISO 14000 in 2008 for environmental protection. Moreover, the plant has received from the local Shanghai government numerous prestigious awards for its outstanding fuel efficiency and energy savings. These include: The Shanghai High-Tech Enterprise Award and the Foreign-Funded Enterprises with Advanced Technology Award. The plant also earned OHSAS18001 and ISO 9001 certifications in 2009.
Enhancing energy efficiency
The experienced management team at the Weigang project has been taking active measures over the past several years to improve energy efficiency in order to reduce internal energy consumption and reduce pollution exhaust. The fruits of these efforts have been reflected in
the plant’s reduced water and oil consumption along with a lowering of CO2 emissions, waste water discharge and improved output and efficiency. This follows the basic operating philosophy at Weigang to continue making this an even more environmentally friendly project for China.
Power that brings about environmental and energy cost benefits Weigang is a project that offers comprehensive benefits. It helps to address both energy efficiency and environmental improvements by converting waste into energy and producing power in a more efficient process. It also helps to improve the air quality environment of the local community.
The way forward for energy
The recent rising risk premiums and tight credit situation as result of the global economic turmoil over the past several years has affected every company around the globe, but MPC has weathered the storm remarkably well through a prudent strategy of maintaining long-term diversification of its asset portfolio and following a disciplined approach toward managing growth. Mr. Perez says, “As we face current and future challenges, we will continue to build on our reputation as the ‘Partner of Choice’ by reinforcing our long-term good relationships with our partners, stakeholder and the community that we serve.”
As for future trends, the direction toward green, renewable energy sources is undeniably the way forward. “Without doubt, the shift toward a more sustainable energy future is already happening and will continue. However, the future energy picture will depend not only on environmental considerations but also on economic, technological and political factors,” Mr. Perez concluded.
MEIYA POWER COMPANY LIMITED
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