South Korea’s SK Incheon Petrochem Company has signed an agreement with local business partners and Incheon City council to collect waste heat its plants and use them to heat and cool houses.
The company estimates that this "energy upcycling" could provide enough energy for 40,000 households for a year. This is expected to save the equivalent of 27,000 tons of LNG and 56,000 tonnes of coal a year.
The project is being backed by Cheongna Energy, a company set up to build sustainable district heating systems, and Incheon Total Energy, a subsidiary of Korean conglomerate GS Group.
The project was conceived by the council as a way of providing sustainable heat to large-scale residential development projects in Songdo, Cheongna and Gajeong districts.
Work on the grid is due to begin in March next year, with the first loops in place by November.
Image: Incheon seen from the Gyeyang Mountain (JNicol/Creative Commons)