From Gas-Fired Power to Nuclear Energy... Expectations Build for Doosan Enerbility's U.S. Investment

[Financial News] The possibility of expanded business opportunities for Doosan Enerbility is drawing attention as a gas combined-cycle power project has been unveiled as the government's first investment project in the United States, while a large-scale nuclear power plant construction project is being mentioned as a candidate for the second. Doosan Enerbility's participation in any individual project has not yet been confirmed. However, the company produces all the key equipment required for both projects, from gas and steam turbines to reactors and steam generators.
According to industry sources on the 24th, the government confirmed the Encinal gas combined-cycle power project in Texas, United States, as its first U.S. investment project the previous day. Construction of eight large-scale nuclear power units in the United States is being discussed as a candidate for the next investment.
The South Korean government is reportedly pursuing, among other options, a plan to build two of the eight new nuclear power units using the Korean-designed APR-1400 reactor.
Although the specific business structure and participation arrangements between South Korea and the United States have not been finalized, Doosan Enerbility is attracting attention because the direction of the U.S. investment aligns with the company's two main power-generation businesses. In a gas combined-cycle power plant, a gas turbine first generates electricity, after which the waste heat produced in the process is used to create steam that drives an additional steam turbine. Doosan Enerbility is considered capable of supplying gas turbines, steam turbines and generators entirely in-house.
The company has already established a track record in the North American market. In March, Doosan Enerbility signed contracts with a U.S. company to supply two 370-megawatt (MW) steam turbines and two generators for data center power supply. It was the company's first steam turbine order in North America. In May, it won an additional order for four 370-MW steam turbines and four generators, which it will supply to Texas through 2029.
Doosan Enerbility is also expanding into the United States with its gas turbines. In March this year, the company received an additional order from a U.S. company for seven large 380-MW-class gas turbines. Including its existing contracts, the total volume of its U.S. supply contracts has risen to 12 units.
Large-scale nuclear power plants, a candidate for the next U.S. investment, are directly tied to another of Doosan's core businesses. Doosan Enerbility manufactures key primary equipment for the APR-1400, including reactors, steam generators and turbine generators. It has also accumulated relevant manufacturing experience through projects such as Shin-Hanul Units 3 and 4 and the Barakah Nuclear Power Plant in the UAE.
Some industry observers believe construction of new nuclear power plants in the United States could begin in earnest as early as the first half of next year. Expectations are particularly high that financing and the sharing of business risks—seen as the biggest obstacles to U.S. nuclear projects—could be partially eased through a government-led investment structure.
An industry source said, "The United States is seeing rising demand for gas combined-cycle power generation as AI data centers expand, while discussions on building new large-scale nuclear power plants are also gaining momentum. Doosan Enerbility has a product lineup capable of supplying both markets, which appears to be driving heightened expectations." 
[email protected] Jung Won-il Reporter