South Korea’s Hanwha Energy stated that the company opened the world’s first hydrogen fuel cell power plant that produces electricity by using left-over hydrogen waste from petrochemical sites on Tuesday.
An inaugural ceremony happened on Tuesday to celebrate the construction of the plant. Many high officials attended the inauguration, including Prime Minister Chung Sye-kyun, Vice Trade Minister Chung Seung-il, and Hanwha Energy CEO Jung In-sub.
During the event, Prime Minister Chung Sye-kyun mentioned that South Korea supplies about 40 percent of hydrogen fuel cells internationally. Korea would heighten its production of hydrogen fuel cells to 15 gigawatts until 2040 and develop it into a significant export production industry.
The power plant construction cost 255 billion won ($212.4 million) and built-in a 20,000 sq.m. location at the Daesan Petrochemical Complex in South Chungcheong Province. The power plant could generate 400,000 megawatt-hours (MWh) of electricity in a year and delivered thru underground pipelines to supply enough electricity to 160,000 households.
The company stated that the 50-megawatt hydrogen fuel cell plant uses up excess by-product hydrogen sourced by Hanwha Total Petrochemical Co.’s plant as fuel and creates electricity with its fuel-cell system.
The Ministry of Trade, Industry, and Energy commented that Hanwha’s power plant consumes waste hydrogen, which produces only water as a by-product. Standard hydrogen fuel cell power plants use hydrogen obtained from liquefied natural gas emits carbon dioxide.
Boosting Hydrogen Fuel Industry
CEO Jung In-sub of Hanwha Energy told that the company would actively support the government’s initiative in boosting the hydrogen fuel industry to further enhance the local economy through the construction of its power plant.
Financial investors make up 6 percent of the shares of the project. In comparison, Korea East-West Power Co. holds a stake of 35 percent, Doosan Fuel Cell with a 10 percent share, and lastly, Hanwha Energy owns a majority of 49 percent share in the project.
Doosan Fuel Cell provided 144 units of 440-kilowatt fuel cells and would maintain the hydrogen fuel cells in 20 years. Also, the Korea Power Exchange would purchase and distribute the electricity produced from the power plant, and Hanwha Energy takes care of the overall operations.