SK Ecoplant and Dongseo Power Join Forces to Secure Overseas Green Hydrogen

[Asia Economy Reporter Kim Min-young] SK Ecoplant is partnering with Korea East-West Power to secure green hydrogen using solar power generation overseas.

On the 29th, SK Ecoplant announced that it signed a Memorandum of Understanding (MOU) for the 'Joint Development of Overseas Green Hydrogen-linked Solar Power Projects' with East-West Power at the Susong Building in Jongno-gu, Seoul. The signing ceremony was attended by Park Kyung-il, President of SK Ecoplant, and Kim Young-moon, President of East-West Power.

This agreement is based on the two companies developing overseas solar power projects and producing green hydrogen domestically using the electricity generated from these projects. In this business, both companies plan to jointly proceed with project development and investment. SK Ecoplant will provide water electrolysis solutions, solar power solutions, and financial procurement capabilities, while East-West Power will be responsible for purchasing the produced green hydrogen, utilizing it as a power source, and supplying it to other demand sectors.

The first development target areas are eight locations in Australia, including Western Australia and Queensland, which are globally recognized as having the lowest green hydrogen production costs. Australia is an optimal site for solar power generation based on its abundant sunlight and vast land. The two companies plan to sign a Joint Development Agreement (JDA) within this year and expand the development target areas not only to Australia but also to the Middle East.

Park Kyung-il, President of SK Ecoplant, said, "By completing the hydrogen sector technology value chain with top-level domestic engineering capabilities along with water electrolysis and solar power solutions, we will take the lead in the green hydrogen business."

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