The global race to build AI data centers has escalated into a war for power generation equipment, and Doosan Enerbility is rapidly expanding its market share by leveraging gas turbines and Long-Term Maintenance Service (LTMS) contracts. With the price per unit approaching ₩400 billion (approximately $261.4 million), supply shortages have intensified to the point where new orders now face wait times of over three years.
According to Doosan Enerbility on the 5th, the company secured orders for 10 gas turbines in the first quarter of 2026 alone. Domestically, it will supply two units to the Hadong LNG Combined Cycle Power Plant and one unit to the Goyang Changneung Combined Cycle Power Plant, while exporting seven units to the North American market for data center use. Since landing its first overseas order last October, the company’s gas turbine business has been experiencing rapid growth both at home and abroad.
This growth spurt has been triggered by major cloud companies (hyperscalers) such as Google and Amazon adopting gas turbines as a primary power source to secure stable electricity for AI data centers. Within South Korea, new demand to replace aging coal and combined-cycle power plants is expected to reach 26 units by 2030, according to the 11th Basic Plan for Long-term Electricity Supply and Demand.
As demand overwhelms supply, gas turbine prices are skyrocketing. According to market research firm Melius, gas turbine prices have surged 300% over the past three years, surpassing $250 million (approximately ₩383 billion) per unit. Due to these supply constraints, current orders face delivery lead times ranging from three to five years.
Amid this boom, Doosan Enerbility is focusing on expanding LTMS contracts beyond simple equipment sales. A company official explained, “Our gas turbine order target for 2030 has increased by 54%, from 46 units to 71 units. Including turbines specialized for small and medium-sized data centers, we aim to secure a cumulative 110 gas turbine orders by 2034 and achieve annual service revenue of ₩1 trillion.”
The area Doosan Enerbility is particularly focused on is LTMS. LTMS is a customized long-term maintenance contract where the original equipment manufacturer or a specialized maintenance provider takes exclusive responsibility for supplying consumables and technical support over decades to ensure the stable operation of gas turbines. It represents a revenue model that secures stable service income for decades following a single turbine delivery.
As the production capacity of global leading companies reaches saturation, opportunities are opening up for Doosan Enerbility. Major competitors like GE Vernova are reportedly negotiating delivery schedules for new orders no earlier than 2031. Doosan Enerbility’s strategy is to aggressively target the market using its faster delivery timelines as a weapon.
A company official added, “In the first quarter of this year, we signed two LTMS contracts for the Bundang Combined Heat and Power Plant and the Eumseong Natural Gas Power Plant. For the North American market, we can provide differentiated services through Doosan DTS, our gas turbine service subsidiary located in Texas.”
Meanwhile, Doosan Enerbility’s gas turbine business expansion aligns with the massive trend of increasing power demand from AI data centers. Hyperscalers require enormous amounts of electricity for AI model training and inference, leading to a reassessment of gas turbines as a highly reliable power source. With the supply chain tightening, Doosan Enerbility’s strategy of simultaneously securing hardware sales and service revenue through LTMS is drawing attention as a mid-to-long-term growth engine.