Lotte World Tower to Generate and Sell Electricity Using Hydrogen... "Power Supply to Seoul"

Implementation of Hydrogen Fuel Cell Power Generation
Establishment of Eco-Friendly Energy Systems

Lotte Corporation, which operates Lotte World Tower, announced on the 27th that it has been finally selected as a power trading seller in the '2024 General Hydrogen Power Generation Operator' bid.

Accordingly, Lotte World Tower has acquired the qualification as the first general hydrogen power generation operator for a commercial building in Korea and plans to sell approximately 5,993 MWh of electricity annually to Korea Electric Power Corporation and others for about 20 years until December 18, 2043. This amount corresponds to the electricity consumption of about 2,100 households for one year, based on an average monthly usage of about 240 kWh per household.

Lotte Engineering & Construction, the first domestic commercial building selected as a general hydrogen power generation operator. Provided by Lotte Engineering & Construction.

Lotte Corporation installed an 800 kW scale power generation facility at the energy center on the 6th basement floor of Lotte World Tower. Since September 2022, it has invested about 2 billion KRW to build a high-efficiency new fuel cell facility through technology review and transmission/distribution facility construction. It participated in the general hydrogen power generation market bid in August this year and obtained the qualification as a power trading seller as of November 27.

The hydrogen fuel cell system is a renewable power generation technology that converts chemical energy generated from the chemical reaction of hydrogen and oxygen into electrical energy. Compared to other renewable energies such as solar and wind power, it is easy to install both indoors and outdoors and enables stable power production. It is expected to contribute to the activation of distribution energy use, especially in the Seoul area where energy consumption is high.

Jang Jae-hoon, CEO of Lotte Corporation, said, "It is meaningful to be the first commercial building in Korea to acquire the qualification as a general hydrogen power generation operator," and added, "Lotte World Tower will continue to strive to utilize renewable energy and reduce carbon emissions as an eco-friendly landmark."

Meanwhile, Lotte World Tower has various renewable energy facilities such as fuel cells, thermal energy, geothermal, solar heat, and wind power, keeping eco-friendliness in mind from the construction stage. It is an eco-friendly landmark that produces about 18% of its total energy consumption from renewable energy by itself. In 2017, it became the world's first building over 100 floors to receive the LEED Gold certification for eco-friendly buildings.

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