• KOSPI

    2,067.86 3.37 (-0.16%)
  • KOSDAQ

    679.52 8.67 (+1.29%)
  • Dollar/Won

    1,134.00 0.70 (+0.06%)
증권시황 정보 열기
Home > Biz&Company

Doosan, Hanwha to build world’s first byproduct hydrogen-fueled power plant

2018.08.16 15:24:45
  • print
  • email
  • facebook
  • twitter
  • share
Daesan hydrogen fuel cell power plant rendering image. [Photo provided by Hanwha Energy]

Daesan hydrogen fuel cell power plant rendering image. [Photo provided by Hanwha Energy]

South Korea’s Doosan Corp. and Hanwha Energy Corp. will create the world’s first power generator of 50 megawatt fueled by byproduct hydrogen as energy source in Seosan, South Chungcheong Province, in joint venture, as the country seeks energy sources beyond the traditional nuclear and fossil fuel.

The 469 billion won ($415.7 million) project announced by two companies on Thursday will involve building a 50-megawatt byproduct hydrogen fuel cell power plant on a facility site managed by Hanwha Total Petrochemical Co. at Daesan Industrial Complex in Seosan, South Chungcheong Province, by 2020. The two companies will set up a special purpose company called Daesan Green Energy for the project with investment also from Korea East-West Power Corporation and SK Securities Co.

The power plant will be the world’s first of its kind using byproduct hydrogen as fuel, the companies said. Byproduct hydrogen fuel cell uses hydrogen created as byproduct in various chemical processes as energy source. Doosan will supply 114 fuel cell units and be responsible for long-term service once the plant is completed. Doosan developed byproduct hydrogen fuel cell units based on indigenous technology last year with plans to supply them to hydrogen power plant starting in the fourth quarter of this year.

Once completed in June, 2020, the fuel cell power plant will be capable of producing 400,000 megawatt-hour electricity annually, which is enough to supply power to about 170,000 households in Seosan area.

An unnamed official from Doosan said that the latest project is significant in that it is its largest in terms of power capacity since it advanced into fuel cell business. It will also be an opportunity for Korea to gain technological competitive edge over others and take the lead in the global byproduct hydrogen fuel cell market that is yet in its early development stage, the official added.

An unnamed official from Hanwha Energy, which will own 49 percent in Daesan Green Energy, also said that the construction of the latest hydrogen fuel cell power plant will allow it to contribute to expanding Korea’s renewable energy industry and boosting regional economy. It will also strive to launch other renewable energy projects based on cumulated experience.

By Lee Dong-in and Lee Eun-joo

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

ad

weather

  • Seoul Wed 14 November 2018
  • WED

    15.0℃

Get Newsletters