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
[August 30, 2018] 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.
Established in 2007, Hanwha Energy is an eco-friendly and comprehensive energy company. We operate cogeneration plants that provide a stable supply of high-quality electricity and ultra-high-pressure steam to companies in national industrial complexes in South Korea. By providing readily available power, our plants improve the competitive advantage of our off-takers. Our cutting-edge technology consistently complies with South Korean government requirements for energy efficiency and greenhouse gas emissions reduction.
For more information, please visit: hec.hanwha.co.kr/eng
Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea and a “FORTUNE Global 500” company. Hanwha Group has 61 domestic affiliates and 325 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With more than 65 years track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from chemicals & materials, aerospace & mechatronics, total solar energy solutions, and global construction. The finance network, covering insurance, asset management and securities, is the second largest non-bank financial group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses.
For more information, visit: www.hanwha.com
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