Korea Hydro & Nuclear Power Develops Hydrogen Fuel Cell Power Project in Gyeongju

[Sejong=Asia Economy Reporter Kwon Haeyoung] Korea Hydro & Nuclear Power (KHNP) signed a 'Industry-Academia Cooperation Type Gyeongju Hydrogen Fuel Cell Power Generation Project Memorandum of Understanding (MOU)' with Gyeongsangbuk-do Province, Gyeongju City, and Uiduk University at Gyeongju City Hall on the 12th.

Fuel cell power generation is a power generation method using hydrogen, a new energy source, and is considered an eco-friendly and future energy source. This project, with a power generation capacity of approximately 20 MWh and a total project cost of about 100 billion KRW, is scheduled to begin construction in January next year and be completed in December. The entire project cost will be directly invested by KHNP, departing from the existing project development method focused solely on power production, to a new industry-academia cooperation type business model that can work together with the local community.

Through this MOU, Gyeongsangbuk-do Province and Gyeongju City will provide administrative support for permits and approvals; KHNP will be responsible for the construction and operation of the hydrogen fuel cell power plant; Seorabeol City Gas will handle the establishment of the city gas supply network and ensure stable supply. Uiduk University, which provides the project site lease, will jointly develop educational programs with KHNP that utilize the hydrogen fuel cell power generation facilities to help improve students' practical skills.

Jung Jae-hoon, President of KHNP, stated, "Through this project, we will strive not only to produce eco-friendly energy but also to develop new industry-academia cooperation type business models such as local talent development programs." He added, "We expect to successfully promote the Gyeongju hydrogen fuel cell project through KHNP's project management expertise and hope this project becomes a model case of coexistence and mutual growth with the local community."