Lotte World Tower Signs Fuel Cell Power Trading Agreement with Korea Electric Power Corporation

Leading the Production and Activation of Renewable Energy

Lotte World Tower announced on the 21st that it has signed a fuel cell power sales contract with Korea Electric Power Corporation (KEPCO). Lotte World Tower is the first commercial building in Korea to obtain the qualification of a fuel cell power generation business operator.

Employees of Lotte Corporation and Korea Electric Power Corporation are taking a commemorative photo at the Lotte World Tower Energy Center.
[Photo by Lotte Corporation]

Lotte World Tower explained that it signed this contract to efficiently operate the fuel cell power generation facility while leading the production and activation of renewable energy. Through this contract, Lotte Corporation will sell the electricity generated by the 800kW-scale fuel cell power generation facility installed in the energy center on the 6th basement floor of Lotte World Tower to KEPCO.

Previously, starting from September last year, Lotte Corporation invested about 2 billion KRW over three months to replace the facility with a new fuel cell system. After about a year of preparation, including obtaining permits, technical reviews, and construction of transmission and distribution facilities, the construction and power sales contract was signed, and the fuel cell power generation business commenced.

Lotte World Tower plans to produce approximately 6,447 MWh of electricity annually through the fuel cell power generation facility and sell it to KEPCO. This amount is equivalent to the electricity consumption of about 2,400 households for one year, based on an average monthly usage of about 240 kWh per household.

Son Yu-gyeong, Head of the Technology and Safety Division at Lotte Corporation, said, "It is meaningful to be the first commercial building in Korea to obtain the qualification of a fuel cell power generation business operator," adding, "We plan to actively lead not only fuel cells but also various renewable energy productions as an eco-friendly landmark in the future."

Meanwhile, the contract signing ceremony held two days ago at the 113th floor EBC of Lotte World Tower was attended by Son Yu-gyeong, Head of the Technology and Safety Division at Lotte Corporation, and Joo Hwa-sik, Head of the Gangdong-Songpa Branch of KEPCO, among others.