LS Electric-Hanwha Solutions-SK Gas-Doosan Fuel Cell-Taekwang Industrial
Hyundai Motors to build fuel cell power plant in Ulsan Mipo Industrial Complex
Promoting a pilot project for a fuel cell that responds to loads by utilizing by-product hydrogen


LS Electric announced on the 6th that it will promote a load-responsive fuel cell pilot project using by-product hydrogen together with Korea Hydro & Nuclear Power, SK Gas, Doosan Fuel Cell, Taekwang Industrial, and Hyundai Motor Company.

On the 3rd, LS Electric signed a non-face-to-face business agreement for the joint development of a fuel cell pilot project for load response in the Ulsan Mipo Industrial Complex with five companies including Hanwha Solutions. The six companies plan to promote the construction of a fuel cell power plant using by-product hydrogen generated in the Ulsan Mipo Industrial Complex.

Some power plants are planning to pilot a load response method that adjusts power generation according to SMP (system marginal price) and fuel costs by linking with the VPP (Virtual Power Plant) platform.

Hanwha Solutions will be responsible for REC purchases and VPP verification for load response, while LS Electric, SK Gas, Doosan Fuel Cell, Taekwang Industrial, and Hyundai Motors will be responsible for EPC and LTSA (long-term maintenance contract) execution and supply of by-product hydrogen, respectively. The six companies agreed to cooperate on similar new businesses in the future.

LS Electric will be in charge of business development, EPC execution, and supply of PEMFC power generation systems.

Hanwha Solutions CEO Jeong Jae-hoon said, “We will do our best with each participating company to make this project a reference model for load-responsive fuel cell projects utilizing domestic by-product hydrogen.”

Park Yong-sang, president of LS Electric, said, “With this agreement, we hope to create a successful case study of a fuel cell pilot project that responds to byproduct hydrogen load, maximize cooperation and synergy among participating companies, and lead to the revitalization of the fuel cell business as a distributed energy source centered on industrial complexes and demanders.”