A Korean municipality signed an investment agreement with a private fuel cell developer to build a new 20MW power station run on hydrogen.
Naju mayor Kang In-Kyu signed the agreement on March 13 at the Mayor’s office with the developer, IT Power Naju Fuel Cell Power station, the city stated.
The developer will build a 20MW fuel cell power station within ‘Naju Innovation Industrial Complex’ investing a total of KRW 107 billion, according to the agreement. The 8222m2 power station will generate 161,345MWh of electricity per year, the City also said in the release.
The construction will start in August for the completion by February 2022.
KEPCO Plant Service & Engineering, KEPCO’s Naju located subsidiary and a co-investor of the project, will be the EPC contractor. Korea Midland Power will secure REC as well as providing operation and management services. A LED lighting developer and manufacturer Neomaru is also participating in project development and EPC works.
The city said that the 2-year construction and 20-year operation of the envisioned power station would create many jobs, including 8,400 construction workers and 100 operators.