Published 19 Jan.2024 13:36(KST)
Updated 19 Jan.2024 15:27(KST)
KIB Plug Energy announced on the 19th that it has purchased a hydrogen fuel power generation site through its investee company Ulsan Hydrogen Power Generation No.1.
The site in Hwasan-ri, Onsan-eup, Ulju-gun, Ulsan Metropolitan City, covers approximately 5,625.9㎡ (square meters) and can operate a total of 20MW power generation project. Starting with securing the site, the company plans to expand the hydrogen fuel power generation business through phased investments in Ulsan Hydrogen Power Generation No.1. Construction is scheduled to begin this year, with commercial operation planned for next year.
Starting with securing the 20MW power generation project site, Ulsan Hydrogen Power Generation No.1 aims to expand up to an annual capacity of 165GW. This is enough electricity supply for about 50,000 households based on a four-person household in Ulsan.
A company official stated, "The advantage is that it is adjacent to potential hydrogen fuel suppliers such as Isu Chemical and SPG Industry," and added, "It is also close to roads, making it easy to transport structures."
He continued, "Starting with the successful site acquisition, we will promptly proceed with phased plans and procedures to accelerate the new business."
In October last year, KIB Plug Energy invested in Ulsan Hydrogen Power Generation No.1 to enter the hydrogen fuel power generation business. On the 17th, it announced the acquisition of a 51% stake in BK Dongyoung Tech, which possesses commercial solid-state battery technology. Based on a stable heat exchanger business, the company plans to expand eco-friendly energy businesses such as hydrogen and secondary batteries to maximize corporate value.
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