Intops Strengthens New Growth Engine by Establishing Renewable Energy Business...

[Asia Economy Reporter Hyungsoo Park] Intops announced on the 8th that it is securing new growth engines by establishing a renewable energy business through additional participation in hydrogen energy power generation projects, following its existing floating solar power and wind power generation projects.

Intops began building its renewable energy business sector by investing in the Daedong Floating Solar Power Plant project, a floating solar power generation project, in 2016. The Daedong Floating Solar Power Plant is a 2MW-class floating solar power plant located in Hampyeong-gun, Jeollanam-do, and was completed in April 2017.

In 2018, Intops invested as a stakeholder in the Yeongdeok Resident Wind project, a 63MW-class wind power plant located in Yeongdeok-gun, Gyeongsangbuk-do. The project is scheduled for completion in 2024.

Intops is newly entering the hydrogen energy power generation business by investing in the 30MW-class Naju Fuel Cell Power Generation project, which is planned to be constructed within the Naju Innovation Industrial Complex.

Hydrogen energy power generation is one of the representative future eco-friendly energy sectors. The global hydrogen economy market is expected to reach approximately 3,000 trillion KRW by 2050.

The Naju Fuel Cell Power Generation project involves Intops, KEPCO KPS, and Korea Southern Power as project owners. It is a 30MW-class hydrogen energy power generation project with a total project cost of about 167 billion KRW, and KEPCO KPS is responsible for overall construction management as the lead contractor.

Kim Geunha, CEO of Intops, stated, "In the current situation where ESG management and the use of renewable green energy are becoming more important than anything else in corporate activities, we view our entry into the hydrogen energy power generation business following floating solar and wind power as very encouraging." He added, "We plan to strengthen new growth engines by advancing into the renewable energy business sector."