From the left in the photo are Joo Nak-young, Mayor of Gyeongju City; Lee Dal-hwa, Vice Governor of Gyeongsangbuk-do for Economic Affairs; Hong Hyun-sung, CEO of Hyundai Engineering; Son Young-chang, CEO of Hanwha Power Systems; and Park Won-seok, President of the Korea Atomic Energy Research Institute, posing for a commemorative photo at the business agreement ceremony. Photo by Hanwha Power Systems
[Asia Economy Reporter Donghoon Jung] Hanwha Power Systems Co., Ltd. announced on the 25th that it held a business agreement ceremony with the Korea Atomic Energy Research Institute (KAERI), Hyundai Engineering Co., Ltd. (HEC), Gyeongsangbuk-do Province, and Gyeongju City to successfully promote the 'Supercritical Carbon Dioxide (sCO2) Power Generation System Technology' project.
The business agreement ceremony held on the 23rd at the Munmu Daewang Science Research Institute in Gyeongju, Gyeongsangbuk-do, was attended by about 15 people including Son Young-chang, CEO of Hanwha Power Systems, Park Won-seok, Director of KAERI, Hong Hyun-sung, CEO of HEC, Joo Nak-young, Mayor of Gyeongju, and Lee Dal-hee, Deputy Governor of Gyeongsangbuk-do for Economic Affairs.
This agreement aims for the world's first commercialization of sCO2 power generation technology through mutual cooperation among domestic industry, research institutes, and local governments, following Hanwha Power Systems’ recognition of its technological prowess by successfully executing a U.S. government national project and signing a contract to supply an sCO2 power generation system for the world's first megawatt-class solar power plant.
Hanwha Power Systems has been closely collaborating with KAERI and HEC to develop sCO2 power generation technology and commercialize the power generation system. The sCO2 power generation system is a revolutionary next-generation power conversion technology that offers higher efficiency and compactness compared to steam turbines and can be applied to SMRs (Small Modular Reactors), which are gaining attention as a key component for achieving carbon neutrality.
To accelerate the commercialization of the sCO2 power generation system, it is essential to establish a demonstration facility for performance verification. Accordingly, five related organizations, including local governments (Gyeongsangbuk-do and Gyeongju City), signed a business agreement. Through this agreement, Hanwha Power Systems plans to establish domestic production and testing infrastructure for the sCO2 power generation system at an early stage.
Since 2015, Hanwha Power Systems has been participating in a next-generation solar energy power system development project led by the U.S. Department of Energy (DOE) in partnership with the Southwest Research Institute, developing the sCO2 power generation system. It has also completed operational verification under world-class high-temperature (720℃) and high-pressure (280 bar) conditions, proving mechanical and structural stability.
Moreover, shortly after developing the sCO2 power generation system, in December 2015, Hanwha Power Systems signed a contract to supply a 5 MW sCO2 power generation system to HelioGen, a U.S. company supported by the Bill Gates Foundation, for a CSP (Concentrated Solar Power) plant, becoming the first company in the world to commercialize a megawatt-class sCO2 power generation system for CSP.
Son Young-chang, CEO of Hanwha Power Systems, said, "Hanwha Power Systems’ sCO2 power generation system is the culmination of 25 years of independent development technology of turbo compressors and various energy equipment." He added, "This business agreement for technological development cooperation is significant as it recognizes our technological capabilities both domestically and internationally." He also stated, "We will lead the eco-friendly energy equipment market through the commercialization of innovative sCO2 power generation systems for future generations."
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