Seobu Power Participates in Mungyeong City Urban Regeneration... Fuel Cell Installation

Investing 260 Billion KRW to Build a 40MW-Class Fuel Cell Power Plant

Korea Western Power signed a business agreement on the 28th at Ssangyong Cement Factory in Mungyeong-si, Gyeongsangbuk-do, together with Gyeongbuk Province, Mungyeong City, Korea Mine Reclamation Corporation, and Yeongnam Energy Service to establish new energy (fuel cell) for the Mungyeong Urban Regeneration New Deal Project. From the left: Go Woo-hyun, Chairman of the Gyeongbuk Provincial Council; Lee Cheong-ryong, Chairman of the Korea Mine Reclamation Corporation; Kim Byung-sook, President of Korea Western Power; Kang Seong-jo, Vice Governor of Gyeongbuk Province; Go Yoon-hwan, Mayor of Mungyeong; Kim Chang-gi, Chairman of Mungyeong City Council; Nam Jeong-ho, CEO of Yeongnam Energy Service. (Photo by Korea Western Power)

[Asia Economy Reporter Moon Chaeseok] Korea Western Power is embarking on a new business to increase energy self-sufficiency while preserving the cultural and historical value of the city.

On the 28th, Western Power announced on the 31st that it signed a 'Memorandum of Understanding for the Establishment of New Energy (Fuel Cell) for the Mungyeong Urban Regeneration New Deal Project' together with Gyeongsangbuk-do, Mungyeong City, Korea Mine Reclamation Corporation, Yeongnam Energy Service, and others at the Ssangyong Cement Factory in Mungyeong City, Gyeongsangbuk-do.

This agreement was prepared to actively respond to the government's hydrogen economy policy and to preserve the historical value of the Ssangyong Cement Factory, a heritage of modern industry, as well as to culturally recycle it.

It is being promoted as part of the Mungyeong City urban regeneration project. It includes building a fuel cell power plant on the cement factory site to increase energy self-sufficiency and expand city gas supply.

Western Power will lead the fuel cell business development and be responsible for the installation and operation of the power plant. It plans to invest about 260 billion KRW to build a 40 MW-class fuel cell power plant on approximately 9,900㎡ of land.

Gyeongsangbuk-do and Mungyeong City will support administrative matters such as permits required for the power generation project. The Mine Reclamation Corporation will handle work coordination and consulting linked to the urban regeneration New Deal project, and Yeongnam Energy Service will be responsible for fuel supply and expanding the city gas supply network.

If the urban regeneration project is successfully carried out, it is expected to create various social values such as ▲profit generation through power production and fulfillment of the Renewable Portfolio Standard (RPS) ▲energy welfare through expansion of the city gas supply network ▲job creation through power plant construction and operation.

Kim Byung-sook, President of Western Power, said, "This project is characterized by being linked to the urban regeneration New Deal project rather than a typical large-scale fuel cell power generation project," adding, "Through the educational and tourism resource utilization of renewable energy facilities, the new energy business can become more familiar to the public."

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