Daewoo Engineering & Construction has announced the signing of a project financing agreement for the Ansan Unit 1 fuel cell power generation project in Ansan, South Korea. This project is a significant step in the clean hydrogen ecosystem creation policy of South Korea. The project, located in Danwon-gu, Ansan-si, Gyeonggi-do, will involve Daewoo Engineering & Construction in all stages, from location discovery to financing and operation. The construction is planned to start this month with an estimated period of 18 months. Hydrogen fuel cells, used in this project, generate electricity through a chemical reaction between hydrogen and oxygen, making it an eco-friendly process that does not emit greenhouse gases. The project is in line with South Korea's roadmap for revitalizing the hydrogen economy, aiming to build 8GW of fuel cell facilities for power generation by 2040. The Ansan Unit 1 fuel cell project is expected to operate for 20 years after its completion in 2026, producing electricity and heat that can benefit numerous households in Ansan. Additionally, it is estimated that about 14,740 tons of carbon dioxide reduction can be achieved through this project. Daewoo Engineering & Construction is committed to strengthening its position in the hydrogen power market and contributing to carbon neutrality. Furthermore, the company is also working on the second phase of the Ansan Unit fuel cell project to enhance the synergy of the overall project. By winning bids for the general hydrogen power generation market, Daewoo Engineering & Construction aims to solidify its role as an energy developer. An official from the company expressed determination to manage all project stages effectively and enhance self-development capabilities.