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Korea Exim News

Korea Eximbank Chairman Visits Hydrogen Fuel Cell Power Plant

  • Date2021.08.27
  • View425
Korea Eximbank Chairman Visits Hydrogen Fuel Cell Power Plant

□The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Bang Moon-kyu, “Korea Eximbank“) announced on August 26 that Chairman Bang Moon-kyu visited Daesan Green Energy, a by-product hydrogen fuel cell power generation site located in Seosan, Chungcheongnam-do, as part of the Bank‘s industry-focused support activities for the hydrogen energy sector, a future innovative growth engine.

 

 

□ Daesan Green Energy* is the world's first hydrogen fuel cell power plant** using by-product hydrogen for power generation. A total cost of about 250 billion won was invested to build the plant on 20,000 square meters of land, and the plant has been generating 400,000 MWh of electricity annually since June 2020.

 * Shareholders : Hanwha Energy 49%, Korea East-West Power 35%, Doosan Pure Cell 10%, etc.

** It uses by-product hydrogen generated in the processing of petrochemicals to produce and supply electricity.

 

○ Fuel cell power generation is an eco-friendly method to produce electricity that does not emit environmental pollutants such as greenhouse gases, sulfur oxides, and nitrogen oxides, but produces only pure water as a by-product.

 

○ The largest shareholder of Daesan Green Energy is Hanwha Energy, which holds a 49 percent stake.

 

 

□ Hanwha Energy is a comprehensive energy company operating collective energy business such as cogeneration* domestically and solar power generation business overseas covering from project development to power generation and electricity sales.

* A power generation method that increases energy utilization by producing electricity and heat at the same time

 

□ Hanwha Energy CEO Jeong In-seop said at the meeting with Chairman Bang, "As competition to secure global energy resources intensifies, demand for power generation using renewable energy resources such as hydrogen and solar power is expected to increase from home and abroad in the future."

 

○ He added, "In this context, Korea Eximbank's financial support is greatly helpful for us to develop and build domestic and foreign power plants, strengthen competitiveness, continue to develop technologies, and invest in facilities."

 

 

□ In response, Chairman Bang said, "As major countries have entered a global competition to create a hydrogen economy ecosystem, we will actively support the projects where Korean companies can participate, aiming to foster Korea's hydrogen industry."

 

 

□ Korea Eximbank plans to supply 21.4 trillion won over the next 10 years to renewable energy industries such as solar, wind, and hydrogen to promote the globalization of the K-New Deal.

 

 

□ Meanwhile, earlier in the day, Chairman Bang visited KG Dongbu Steel‘s plant in Dangjin as part of the Bank‘s on-site communication activity and listened to the grievances of the steel industry.

 
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