Daejeon Pyeongchon Industrial Complex 'Hydrogen Fuel Cell Power Generation Project' Kicks Off

The 'Hydrogen Fuel Cell Power Generation Project' within the Pyeongchon Industrial Complex in Daejeon is set to be actively promoted.

On the 11th, Daejeon City announced that it has obtained power generation business approval from the Ministry of Trade, Industry and Energy's Electricity Committee, enabling the hydrogen fuel cell power generation project to accelerate.

Location map of the planned 'Hydrogen Fuel Cell Power Plant' site in Pyeongchon Industrial Complex, Daejeon. Provided by Daejeon City

This project applied for power generation business approval in December last year, but the review was postponed due to the absence of a power generation business code for the project site.

However, in July, after adding the power generation business code (D35), a re-examination was requested from the Ministry of Trade, Industry and Energy's Electricity Committee, and final approval was obtained, securing momentum for project promotion.

The project will be promoted by establishing an SPC (Special Purpose Company) by SK Gas, LS Electric, CNCITY Energy, and others.

The Pyeongchon Hydrogen Fuel Cell Power Plant is a project led by Daejeon City to attract corporate investment, with plans to construct it with a project cost of approximately 300 billion KRW.

The power plant is expected to produce 320,000 MWh of electricity annually, which is enough to supply 100,000 average households.

Daejeon City plans to participate in the hydrogen power generation bidding market in the first half of 2024 and aims to raise Daejeon's currently lowest power self-sufficiency rate of 1.8% to 5.1% through early construction.

With the construction of the hydrogen fuel cell power plant, special support project funds provided to local residents are expected to reach 1.5% of the total construction cost (3 billion to 4.5 billion KRW).

Additionally, Daejeon City anticipates that urban gas can be gradually supplied to about 650 households in the Pyeongchon Industrial Complex and Giseong-dong area, enabling the realization of energy welfare.

Kim Young-bin, Director of the Economic Science Bureau of Daejeon City, said, "Fuel cell power generation emits almost no pollutants and reduces carbon emissions by more than 30%. We expect that by 2026, when the facility is completed, the power self-sufficiency rate in the Daejeon area will rise to 5.1%."

He added, "We will ensure that the hydrogen fuel cell power plant project attracts large-scale corporate investment and becomes a model case of regional coexistence by achieving local resident support projects such as support funds for the power plant’s surrounding area and urban gas supply."

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