LS Electric, Korea Hydro & Nuclear Power, and Others Promote Byproduct Hydrogen Utilization Load Response Fuel Cell Pilot Project

LS Electric announced on the 3rd that it signed a non-face-to-face Memorandum of Understanding (MOU) for the joint development of the Ulsan Mipo Industrial Complex Load Response Fuel Cell Pilot Project with Korea Hydro & Nuclear Power and four other companies. From left to right, Hyundai Motor Company Fuel Cell Business Division Head Kim Se-hoon, Doosan Fuel Cell CEO Yoo Soo-kyung, LS ELECTRIC CEO Park Yong-sang, Korea Hydro & Nuclear Power CEO Jung Jae-hoon, SK Gas CEO Yoon Byung-seok, and Taekwang Industrial CEO Jung Chan-sik are posing for a commemorative photo. (Photo by LS Electric)

[Asia Economy Reporter Jeong Hyunjin] LS Electric announced on the 3rd that it will promote a pilot project for load-following fuel cells utilizing byproduct hydrogen in collaboration with Korea Hydro & Nuclear Power, SK Gas, Doosan Fuel Cell, Taekwang Industrial, and Hyundai Motor Company.

On the same day, LS Electric signed a non-face-to-face Memorandum of Understanding (MOU) with Korea Hydro & Nuclear Power and five other companies for the joint development of the "Ulsan Mipo Industrial Complex Load-Following Fuel Cell Pilot Project," and announced plans to construct a fuel cell power plant utilizing byproduct hydrogen generated in the Ulsan Mipo Industrial Complex. Part of the power plant will be operated as a pilot for load-following, adjusting power output according to system marginal price (SMP) and fuel costs in connection with the VPP platform.

In this project, Korea Hydro & Nuclear Power will be responsible for REC purchases and VPP demonstration for load-following, while LS Electric, SK Gas, Doosan Fuel Cell, Taekwang Industrial, and Hyundai Motor Company will respectively handle EPC and LTSA (Long-Term Service Agreement) execution and byproduct hydrogen supply. LS Electric explained that it is actively investing in the renewable energy sector based on its business performance and experience in smart energy fields such as solar power, ESS, and microgrids, and in this project, it is responsible for project development management, EPC execution, and supplying PEMFC power generation systems.

The six companies that signed the agreement also agreed to cooperate in promoting new projects applying similar business models in the future.

Park Yongsang, President of LS Electric, said, "Through this agreement, we hope to create a successful case of the load-following fuel cell pilot project utilizing byproduct hydrogen, maximize cooperation and synergy among participating companies, and lead to the activation of the fuel cell business as a distributed energy source centered on industrial complexes and demand sites."

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