MP proposes to remove RPS cap

The Democratic Party MP Kim Sung-hwan moved to abolish the upper cap of RPS. MP Kim said RPS is outpaced by REC supply since 2017 and decreasing renewable energy price is impacting small power generators. He said the current 10% cap cannot create meaningful traction in the market, explaining the background of his proposal. Source: Energy […]

KEA initiates 2020 PV leasing program

KEA

Korea Energy Agency started 2020 PV leasing program for individuals by signing an agreement with seven leasing companies. This year’s program will lease 11MW of PV systems to around 10,000 homes who will pay up to KRW 39,000 of monthly subscription fee for seven years. Source: KEA (Internet Explorer only)

MOTIE forms KRW 34 billion fund to empower hydrogen economy

MOTIE

MOTIE establishes a KRW 34 billion worth new fund under existing ‘ENERGY NEW INDUSTRY FUND’ to help pioneer companies in the hydrogen economy. The new fund will provide financial support to SMEs working in areas such as renewable energy, hydrogen, energy storage, and efficiency. Source: MOTIE

Gangwon to build hydrogen storage & transport cluster

Gangwon

Gangwon Province, Donghae City, and Korea East-West Power signed and cooperation agreement for the establishment of ‘hydrogen cluster.’ Gangwon is planning to build Korea’s only hydrogen storage & transport cluster investing KRW 235 billion. Source: Gangwon Province

JDP launched for ammonia bunkering vessel

Korean Register of Shipping (KR), EMEC, Man Energy Solutions, and Navig8 signed an agreement to form JDP to develop an ammonia bunkering vessel. The ship will be designed by EMEC and will equip ammonia engines developed by Man Energy Solutions. Navig8 will explore ammonia’s viability as a shipping fuel, while KR providing technical advice, risk […]

KIER signs CRADA with NETL for gas hydrates

The Korea Institute of Energy Research (KIER) signed a CRADA with the National Energy Technology Laboratory under the under the Department of Energy of the US to cooperate in the study of gas hydrates and its industrial applications. KIER said it is preparing for the second CRADA for Oxy-fuel combustion. Source: KIER

Seoul announced 3rd supplementary budget in 1H

Seoul Metropolitan Government set forth the new supplementary budget worth over KRW 2 trillion. This is the third supplementary budget only in the first half of the year. In the package, Seoul allocated KRW 75 billion to the Green New Deal. The city will spend KRW 12 billion for hydrogen bus recharging stations, and KRW […]

Sejong to build 200MW fuel cell power plant

Sejong

Korea’s administrative capital Sejong Special Self-Governing City will build a 200MW hydrogen fuel cell power plant by 2030. The city stated that it signed an investment agreement worth KRW 1.2 trillion with Eco Green Power, Fidelis Asset Management, and Byucksan Engineering. As the first phase, partners will build a 15-20MW PEMFC power plant by 2022. […]