MOU plans hydrogen power plantAs part of its push to increase adoption of hydrogen technology, Hyundai Motor said Thursday that it signed a memorandum of understanding (MOU) with Korea East-West Power (EWP) and hydrogen supplier Deokyang to develop and test a hydrogen fuel-cell power plant.
The three companies agreed to build a 1 megawatt facility powered by hydrogen fuel cells at EWP’s petrochemical complex located in Ulsan in the second half of this year, according to Hyundai Motor.
The facility will incorporate hydrogen fuel-cell energy modules used in Hyundai Motor’s Nexo fuel-cell electric vehicle (FCEV).
EWP will operate the facility while Deokyang will be in charge of supplying the fuel source.
The power plant will be composed of two 500 kilowatt generators with annual production expected to be at around 8,000 megawatt-hours, the equivalent of powering 2,200 households for a year.
The plant will also make use of hydrogen created as a by-product from processing petrochemicals at the Ulsan complex.
EWP said in a separate statement that it will seek to further develop the power plant.
“The fuel-cell plant demonstration is currently rated at 1 megawatt, however, we will cooperate to expand [the facility] after the demonstration,” said Park Il-jun, EWP CEO.
EWP’s cooperation with Hyundai Motor comes as it looks to increase its energy capacity from renewable sources to 5 gigawatts by 2030.
The power company has already started construction of a 50 megawatt hydrogen fuel-cell power plant in Seosan, South Chungcheong, scheduled to be completed in 2020.
Hyundai Motor has also been active in developing hydrogen fuel-cell technology.
The automaker said late last year that it will establish FCEV production capacity of 500,000 units by 2030.
BY CHAE YUN-HWAN [firstname.lastname@example.org]
More in Industry
Beef for the Year of the Ox
Real estate reaches the 21st century with the 'proptech' boom
Companies count on crafting customized cosmetics for consumers