Hanwha-Doosan-LS Unite to Collaborate on 'Renewable Energy Generation Project'

Hanwha Power Systems, Hanwha Asset Management, Doosan Fuel Cell, and LS Electric signed a memorandum of understanding (MOU) on the 12th to develop technology and commercialize a pressure reduction power generation system linked to fuel cells.

Hwang Won-il, Head of LS Electric Business Division (from left), Lee Seung-jun, Head of Doosan Fuel Cell Division, Son Young-chang, Business Manager of Hanwha Power Systems, and Heo Kyung-il, Head of Hanwha Asset Management, are posing for a commemorative photo after signing the MOU.

[Asia Economy Reporter Ki-min Lee] Private companies in the power generation, electricity, and finance sectors such as Hanwha, Doosan, and LS have joined forces to develop renewable energy business models linked to fuel cells.

Hanwha Power Systems, Hanwha Asset Management, LS Electric, and Doosan Fuel Cell announced on the 13th that they signed a business agreement on the 12th to develop renewable power generation projects (pressure reduction power generation) targeting city gas companies. The four companies that signed the agreement agreed to actively cooperate in ▲technology exchange for utilizing unused energy ▲optimization of combined energy source utilization ▲business model development and total financial services related to it.

The companies stated that this business agreement was reached as a consensus was formed on the need for synergy among leading private companies to actively respond to the government's recent 'Green New Deal' policy and to recycle 'unused energy' within city gas pressure reduction stations (facilities that reduce pressure during city gas supply).

Unused energy refers to energy that is discarded after use in industrial production processes without methods for reuse or energy that exists naturally but remains unutilized. Representative unused energy sources include waste heat such as hot steam emitted from factories or power plants and discarded hot water, as well as waste pressure energy such as waste pressure discharged or discarded from petrochemical plants.

In city gas pressure reduction stations, high-pressure natural gas undergoes a pressure reduction process to lower the pressure before being sent to households. The waste pressure that was discarded during this process is used for electricity generation through a Turbo Expander Generator (TEG). The core of this project is to compensate for the lowered temperature by supplying heat to the fuel cell.

In particular, linking the Turbo Expander Generator and fuel cells is expected not only to recover existing waste pressure but also to expand into future hydrogen businesses. Currently, Korea Gas Corporation is conducting a demonstration project near the Balan Supply Management Station in Hwaseong City, Gyeonggi Province, and the fuel cell is applied as a Tri-gen model that produces electricity, heat, and hydrogen to enable future expansion to hydrogen charging stations.

Hanwha Power Systems manufactures and supplies TEG equipment that recovers gas pressure discarded during the pressure reduction process at city gas pressure reduction stations. Hanwha Asset Management provides financing and professional financial support services for this project. Doosan Fuel Cell supplies the main fuel cell units to provide heat and electricity and is responsible for long-term maintenance (LTSA, Long Time Service Agreement). LS Electric, based on its business experience in various smart energy fields such as solar power, energy storage systems (ESS), and smart grids, will concretize the fuel cell business model and oversee future projects.

Lee Seung-jun, Executive Director of Sales at Doosan Fuel Cell, said, “The fuel cell-linked city gas pressure reduction power generation business model is significant in that it optimizes energy efficiency by utilizing eco-friendly energy,” adding, “We will strive further to develop new renewable energy business models to respond to the government's Green New Deal policy.”

An LS Electric official also said, “This MOU aims to develop a fuel cell-linked pressure reduction power generation business model as a starting point to develop and spread a win-win system linked to eco-friendly power sources,” adding, “We expect that this new model linking pressure reduction power generation and fuel cells will contribute to the Green New Deal.”

A Hanwha Power Systems official added, “We expect to revitalize unused energy power generation projects together with leading companies in each field through this business agreement,” and “Based on this, we will expand the supply of eco-friendly solutions that accelerate the transition to green energy.”

This content was produced with the assistance of AI translation services.