POSCO to Promote Fuel Cell Power Generation Project Using Byproduct Hydrogen from Steelworks with Korea Hydro & Nuclear Power

Korea Hydro & Nuclear Power Signs MOU on Utilizing Byproduct Hydrogen from Steelworks for Fuel Cell Power Generation and Promoting Clean Hydrogen

Establishing 40MW-Class Clean Fuel Cell Power Plant Using Byproduct Hydrogen Extracted from POSCO Stee

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] POSCO is advancing a fuel cell power generation project utilizing by-product hydrogen generated at steel mills in collaboration with Korea Hydro & Nuclear Power (KHNP).

On the 12th, POSCO signed a business agreement with KHNP at the POSCO Center in Seoul regarding the "Fuel Cell Power Generation Project Utilizing By-product Hydrogen from Steel Mills and Activation of Clean Hydrogen."

The signing ceremony was attended by POSCO’s Yoo Byung-ok, Head of Industrial Gas and Hydrogen Business Division, and KHNP’s Park Sang-hyung, Head of New Business Division, among others.

Yoo Byung-ok, Head of POSCO’s business division, stated, “Ahead of the arrival of a fully green hydrogen era, we aim to lay the foundation for the hydrogen economy by utilizing the by-product hydrogen production capacity that POSCO possesses,” adding, “By utilizing by-product resources from steel mills and establishing a clean fuel cell power plant domestically together with KHNP, we will open the era of carbon neutrality.”

According to the agreement, the two companies plan to start a preliminary feasibility study for the hydrogen fuel cell power generation project, followed by project development, financial procurement, and EPC (Engineering, Procurement, and Construction).

The power plant will be constructed in Gwangyang City in accordance with the hydrogen industry business agreement POSCO signed with Jeollanam-do Province and Gwangyang City on the 3rd. It is planned to be built with a capacity of 40MW fuel cell power generation, producing approximately 318GWh of electricity annually.

This amount of electricity corresponds to the annual consumption of about 32,000 people, which is 20% of Gwangyang City's population, and is expected to reduce greenhouse gas emissions by 280,000 tons annually compared to coal-fired power plants of the same output.

POSCO has an annual hydrogen production capacity of 7,000 tons using by-product gases such as Cokes Oven Gas generated during the steel manufacturing process. Currently, about 3,500 tons of by-product hydrogen are used for steel mill operations and power generation, and POSCO plans to gradually increase production capacity by improving facility utilization rates and making additional investments.

KHNP is a power generation company with the best domestic experience in fuel cell power generation development and operational know-how, currently operating fuel cell power plants with a total capacity of 150MW at multiple domestic sites. Going forward, KHNP plans to seek a more stable and economical fuel cell power generation business by receiving by-product hydrogen from POSCO.

Park Sang-hyung, Head of KHNP’s New Business Division, expressed expectations for cooperation, saying, “The fuel cell power generation project utilizing by-product hydrogen from steel mills is excellent in terms of power generation efficiency and eco-friendliness, and as it uses hydrogen, I believe it is an excellent business model to realize the nation’s carbon neutrality policy.”

In addition, POSCO and KHNP will join forces in the development of hydrogen-related technologies and businesses currently underway. They plan to cooperate in ▲ hydrogen production and utilization projects using clean energy ▲ technology development and information exchange to activate the clean hydrogen industry ▲ overseas clean hydrogen business development and demonstration projects.

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