Hanwha Energy Breaks Ground on a Groundbreaking Power Plant
- Hanwha Energy is diversifying its product portfolio by investing in renewable energy
- The company's newest power plant will be the first in the world to run solely on hydrogen generated as an industrial byproduct
Hanwha Energy cemented itself as an eco-friendly and comprehensive energy solutions provider by breaking ground on a 50 MW hydrogen fuel cell power plant. Located at the Daesan Industrial Complex in Seosan, South Korea, it is the largest power plant of its kind and the first in the world to be powered solely by hydrogen that is extracted as a byproduct from petrochemical production.
Construction on the USD 228 million* project is now underway on a 20,000 square meter site, to be completed by June 2020. At full capacity, the plant will be able to produce 400,000 MWh of electricity per year, enough to power 170,000 homes.
|* KRW 255 billion (USD 1 = KRW 1,118)
Hydrogen fuel cells are eco-friendly power sources as they do not generate harmful nitrogen oxide and sulfur oxide emissions. The fuel cells to be used at the Seosan plant will also use microfilters to catch any particulates before they can enter the atmosphere, further enhancing the plant's eco-friendliness.
Hanwha Total Petrochemical will supply the power plant with approximately 3.4 tons of hydrogen per hour from its refinery at the Daesan Industrial Complex. The power plant's fuel cells are expected to produce around 40,000 tons of water per year as a byproduct, which will then be sent back to be used by Hanwha Total Petrochemical's refinery.
Once the plant is completed, Hanwha Energy will have a truly diverse range of energy solutions, with traditional power plants, solar power plants, and hydrogen fuel cell power plants in its product portfolio.
“This hydrogen fuel cell power plant is an opportunity for us to expand our offerings and move further into the renewable energy market,” says Doo-hyung Ryu, CEO of Hanwha Energy. “It's also a chance for us to help revitalize the local economy.”
The plant will be operated by Daesan Green Energy, a special purpose company formed by Hanwha Energy, Korea East-West Power, Doosan Corporation, and SK Securities.
Hanwha Energy is a comprehensive energy solutions provider that operates power plants in Korea and around the world with a focus on sustainability. Its diverse portfolio includes cogeneration plants, solar power plants, as well as the world’s largest hydrogen fuel cell power plant, located in Korea’s Daesan Industrial Complex. Hanwha Energy also acts as an independent power producer, offers operation and maintenance services, and is developing new energy storage systems and smart energy management solutions.
For more information, visit: hec.hanwha.co.kr/eng/enMain.do
Founded in 1952, Hanwha has grown quickly by anticipating and responding to changing business environments with a balanced business portfolio that includes energy & materials, aerospace, finance and retail & services. Our expertise and synergy in key areas have catapulted us into the seventh-largest business in South Korea and a Fortune Global 500 company. Hanwha continues to grow rapidly as we strive to pursue global leadership in all of our businesses. We are building a robust foundation for sustainable development and a brighter future for everyone.
For more information, visit: www.hanwha.com
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