Joint Development of 80MW Fuel Cell Project with Chambit Group
SK Eteonics, a power generation company spun off from SK D&D, is advancing a fuel cell power generation project at Chungju Eco Park.
On the 26th, SK Eteonics announced on the 27th that it had signed a business agreement with urban gas operator Chambit Group for the joint development of a fuel cell project. The signing ceremony took place at SK Eteonics headquarters in Pangyo, Seongnam-si, Gyeonggi-do, attended by Kim Haejung, CEO of SK Eteonics, and Lee Howoong, CEO of Chambit Group, among others.
On the 26th, SK Eteonics signed a business agreement with Chambit Group at the SK Eteonics headquarters in Seongnam, Gyeonggi Province, to jointly develop the fuel cell project for 'Chungju·Daesowon Eco Park.' From left to right: Hong In-pyo, Team Leader of the Fuel Cell Part at SK Eteonics; Kim Hae-jung, CEO of SK Eteonics; Lee Ho-woong, CEO of Chambit Group; Jo Kyung-seok, Vice Chairman of Chambit Group. Photo by SK Eteonics
The two companies plan to establish joint investment and mutual cooperation systems to develop the fuel cell projects at Chungju Eco Park and Daesowon Eco Park. Both projects will be operated through special purpose companies (SPCs) jointly invested by SK Eteonics, Chambit Group, and financial investors.
Chungju Eco Park is a 40MW fuel cell power plant to be built on approximately 5,200 pyeong of land within the Chungju Megapolis General Industrial Complex, with construction starting this year and commercial operation targeted for 2025. Daesowon Eco Park is a 40MW fuel cell power plant located on a site near Chungju Eco Park, aiming for commercial operation in 2026.
SK Eteonics will be responsible for supplying the main equipment and overall project management including permits and approvals, while Chambit Group will handle the supply of city gas within the power plants. Additionally, KDB Infrastructure Asset Management will arrange financing and proceed with project financing (PF).
SK Eteonics currently operates the Cheongju Eco Park (20MW), Eumseong Eco Park (20MW), and the Boeun Fuel Cell (20MW) project, which began construction in February, accumulating a total of 140MW of fuel cell power plants operated and under construction in the Chungbuk region.
Once the Chilgok Eco Park (20MW), Yakmok Eco Park (9MW), and Boeun Fuel Cell (20MW) projects under construction commence commercial operation this year, SK Eteonics will operate a cumulative 89MW of fuel cell power plants. This will produce approximately 740GWh of electricity annually, enough to supply about 200,000 households.
Kim Haejung, CEO of SK Eteonics, said, "We expect to improve the power self-sufficiency of the Chungbuk region and maximize social benefits. We will diversify our business models to contribute to the activation of the hydrogen economy and take the lead in establishing a sustainable renewable energy ecosystem."
Meanwhile, SK Eteonics separated from SK D&D through a spin-off on the 1st of this month, accelerating the strengthening of expertise and business expansion in the renewable energy sector. It is scheduled to be re-listed and resume trading on the KOSPI market on the 29th.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
