Korea Hydro & Nuclear Power Officially Enters Pohang Fuel Cell Business

[Asia Economy Reporter Kwon Haeyoung] Korea Hydro & Nuclear Power (KHNP) signed a Memorandum of Understanding (MOU) for the Pohang Fuel Cell Power Generation Project on the 20th at Pohang City Hall with Gyeongbuk Province, Pohang City, Yeongnam Energy Service, and Pohang Technopark.

This project will be fully funded by KHNP with an investment of approximately 100 billion KRW and is scheduled to be constructed within the Pohang Blue Valley Industrial Complex by 2023. It is being promoted as part of Gyeongbuk Province's 'Hydrogen Fuel Cell Power Generation Cluster Establishment Project' and is expected to generate synergy effects through industry-academia-research cooperation by linking the development of power plant operation and maintenance (O&M) technologies and activation of university workforce training programs within the province.

▲ Gyeongbuk Province and Pohang City will provide administrative support for cluster formation, project permits, and resident cooperation ▲ KHNP will handle the construction and operation of the hydrogen fuel power plant and domestic production of O&M technologies ▲ Yeongnam Energy Service will ensure stable city gas supply ▲ Pohang Technopark will support research personnel and equipment for securing O&M technologies and workforce training.

Jung Jae-hoon, President of KHNP, stated, "Through the Pohang Fuel Cell Power Generation Project, we will strive not only to drive regional development but also to lay the foundation for the East Coast of Gyeongbuk to become a global hub for the hydrogen fuel cell industry."

Fuel cell power generation is a method of generating electricity using chemical reactions rather than combustion. It has minimal impact on the surrounding environment and is gaining attention as an eco-friendly and future energy source. In particular, this project has the advantage of contributing to national energy efficiency by expanding renewable energy while distributing fuel cell power plants to industrial complexes with high electricity consumption.