FuelCell Energy to Power South Korea's Hydrogen Economy with Largest Fuel Cell Power Platform
Key Ideas
  • FuelCell Energy will deliver 42 1.4MW fuel cell modules to Gyeonggi Green Energy to support the upgrade of the Hwaseong Baran Industrial Complex, the largest fuel cell power platform globally.
  • The platform in Hwaseong-si can produce 58.8MW of electricity, sufficient to power around 135,000 homes, contributing to Korea's Hydrogen Economy Roadmap aimed at 15GW of fuel cell power by 2040.
  • The agreement with GGE is valued at approximately $160m, reflecting FuelCell Energy's commitment to providing clean, efficient, and reliable energy solutions to South Korea, with additional offerings like biogas and solid oxide fuel cells.
  • FuelCell Energy's expansion in South Korea includes hosting events to showcase clean energy offerings, signing agreements to increase its presence, and providing global hydrogen intelligence through analytics and forecasting.
FuelCell Energy has secured a significant agreement to supply 42 1.4MW fuel cell modules to Gyeonggi Green Energy in South Korea, supporting the enhancement of the Hwaseong Baran Industrial Complex, which is deemed the world's largest fuel cell power platform. This platform, located in Hwaseong-si, has a considerable capacity of 58.8MW, capable of powering a substantial number of homes in the region, aligning with South Korea's ambitious Hydrogen Economy Roadmap targeting 15GW of fuel cell power by 2040. The agreement, valued at around $160m, signifies FuelCell Energy's dedication to delivering clean, efficient, and reliable energy solutions in the Korean market. The partnership includes a seven-year service agreement to ensure the maintenance and service of the fuel cell modules. FuelCell Energy's President and CEO, Jason Few, highlighted the company's commitment to providing sustainable energy solutions in Korea, including other offerings like biogas and solid oxide fuel cells. The company plans to showcase its clean energy portfolio, including solid oxide electrolysis technology and power generation, to current and potential customers in Korea. This development builds on FuelCell Energy's previous agreements in South Korea, signaling its expanding presence in the country's renewable energy sector. Furthermore, the company offers global hydrogen intelligence through analytics and forecasting, aiming to provide insights and strategic advantages for investors, policymakers, and industry professionals.
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