Hanwha Asset Management Signs MOU with Doosan Fuel Cell to Develop Fuel Cell Financial Solutions

Joo-eon Park, Head of Management Division at Doosan Fuel Cell (left) Kyung-il Heo, Head of Infrastructure Business Division at Hanwha Asset Management (right)

[Asia Economy Reporter Hwang Junho] Hanwha Asset Management and Doosan Fuel Cell announced on the 23rd that they signed a 'Memorandum of Understanding (MOU) for the Development of Fuel Cell Financial Solutions for the CHPS System' at 63 Square in Seoul.

With the signing of the agreement, Hanwha Asset Management and Doosan Fuel Cell are expected to actively expand investment opportunities in financial services specialized for fuel cells.

This agreement was made based on the mutual recognition of both companies that it is necessary to provide financial services that can contribute to smooth funding procurement even in difficult financial environments, in response to the newly announced Clean Hydrogen energy Portfolio Standards (CHPS) system.

'CHPS' is a policy promoted to separate hydrogen power generation from the existing RPS system, establish a support system suitable for the characteristics of hydrogen power generation, and promote the use of clean hydrogen for hydrogen power generation.

With the amendment of related laws and the establishment of enforcement ordinances, the system is expected to be introduced from next year and is anticipated to greatly contribute to the activation of the hydrogen power generation market, including fuel cells, which are growing as a mainstay of the global energy market.

The main contents of this agreement include deriving optimal financial solutions through monitoring the CHPS system, launching a blind fund specialized in fuel cells with direct participation from Doosan Fuel Cell, and providing financial services that meet investors' needs. The goal is to contribute to the successful establishment of government policies and to build a comprehensive solution system where Doosan Fuel Cell provides not only product-related services but also financial services.

Huh Kyung-il, Head of Infrastructure Business Division at Hanwha Asset Management, stated, "We plan to develop financial solutions specialized for the CHPS system and Doosan Fuel Cell fuel cells, and take charge of the overall fund formation and operation in the future."

Park Joo-eon, Head of Management Division at Doosan Fuel Cell, said, "Doosan Fuel Cell will expand its participation in the fuel cell business under the CHPS system not only by manufacturing and maintaining existing fuel cell main devices but also by developing financial solutions specialized for Doosan Fuel Cell’s fuel cell business and participating as an investor in the funds to be formed in the future."

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