Fuel Cell Power Business Overview
- Business NameAdvanced Fuel Cell Power Generation
- Business Site19 Cheomdan venture so-ro 15beon-gilm Hi-Tech Venture Center, Buk-gu, Gwangju, Korea
- Fuel cell0.68[MW] + ORC 300[kW]
- Total Business ExpenditureApproximately KRW 55 billion
(15% equity, 85% external capital) - Business Period15 months for construction ('22.07 ~ '23.11),
20 years of operation ('23.12~'43.12) - Revenue SourceSMP, REC + heat sales
Through building a power facility by installing fuel cell power generation facilities inside existing factory buildings in a high-tech industrial complex, GANA ENG
- Sells heat for cooling, heating, and air conditioning to national research institutions and tenants.
- Sells electricity to the electricity exchange and RECs to power generation companies.
Fuel Cell Power Business R&D Overview
Fuel Cell Power Business Organization and Performance
- SG SolarFactory Building (in-kind)
- Byucksan ENG, Gana ENGBusiness development (joint), EPC (partial)
- Korea Western Power CoPurchase of RECs
- KEPCO KPS(CI,SI)EPC (representative company)
- Shinhan BNP(FI)Financial Arrangement
"Investment composition : Western Power 20%, KEPCO KPS 20%, SG (in-kind), Gana+ Byucksan + Shinhan BNP 60%.
Fuel Cell Power Business Expectations
01Municipal Aspects
- Fostering the hydrogen industry as the leading local government responding to the government's initiatives to revitalize the hydrogen economy and inducing energy independence in industrial complexes
- Electricity production: 78,013Mwh/y (enough for 29,100 households)
- Heat production: 39,900 Gcal/y (6,650 households)
- Expected to revitalize the local economy by attracting renewable energy generation sources
- Job creation by attracting new industries (renewable energy)
- Implementing the government's new energy industry strategy by expanding the supply of renewable energy and reducing greenhouse gases through decreasing the use of fossil fuels
- Reduced carbon emissions by 2,958tC/year
- Reduced carbon dioxide emissions by 10,845tCO2/year
02Heat Consumer Aspects
- Reducing fossil fuels by utilizing waste heat from renewable energy generation from LNG-dependent heat production methods
- Reduced LNG consumption by 4,535 thousand cubic meters per year (4,730 toc)
- Expected to reduce energy costs by securing a cheaper heat source than existing fuels
- Annual energy cost savings of about KRW 11,169 million (heat supply unit price of KRW 35,600/Gcal)
*LNG savings of 4,353 N㎥/year X KRW 571/N㎥ (average for marine energy industry2) - KRW 14.2 million/year = KRW 11.9 million/year
- Annual energy cost savings of about KRW 11,169 million (heat supply unit price of KRW 35,600/Gcal)
