2023 New Project Announcement
Applications Open Until June 30
Project Briefing Held on May 17
2 Electrolyzer Sites, 1 Carbon Capture Site
The government will provide a total of 17.8 billion KRW over three years to establish hydrogen production bases.
The Ministry of Trade, Industry and Energy announced on the 27th that it has announced new projects for the 2023 hydrogen production base establishment project. Through this announcement, the ministry is recruiting businesses to participate in the establishment of two water electrolysis-based hydrogen production bases and one carbon capture-type hydrogen production base.
After evaluation by the evaluation committee, the selected consortium (private companies + local governments) will receive support of 5.5 billion KRW per water electrolysis production base and 6.8 billion KRW for the carbon capture-type production base over three years. Private companies and local governments wishing to participate in the public offering can submit their applications on the Hydrogen Convergence Alliance website by June 30.
Among them, the establishment of the carbon capture-type hydrogen production base is a newly promoted project this year. It not only produces hydrogen to supply nearby hydrogen charging stations but also captures and liquefies carbon dioxide to provide it to the shipbuilding and food and beverage industries. Carbon dioxide generated during hydrogen production through natural gas reforming is captured. Water electrolysis is a method of producing hydrogen and oxygen by decomposing water using electricity.
The water electrolysis hydrogen production base establishment project first selected two sites last year: Buan in Jeonbuk and Pyeongchang in Gangwon. In the Buan water electrolysis project, Hyundai Construction participates as the lead organization, responsible for designing the water electrolysis production facilities, civil engineering, and architecture. The Pyeongchang water electrolysis project is led by Hanwha Solutions, which plans to cooperate with Gangwon Province to utilize electricity generated from wind turbines owned by the province to produce green hydrogen and supply it to the nearby Daegwallyeong hydrogen charging station.
The Ministry of Trade, Industry and Energy plans to hold a related project briefing session for local governments and hydrogen-related companies on May 17. A ministry official stated, "We plan to continuously promote not only financial support but also regulatory relaxation and institutional improvements."
A bird's-eye view of the hydrogen production base based on water electrolysis under construction by Hyundai Engineering & Construction in Buan-gun, Jeollabuk-do.
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