SK innovation E&S, Hanwha Impact Corp. and three subsidiaries of the  state-owned power company have submitted bids for South Korea‘s first  clean hydrogen power generation projects. According to industry sources on Thursday, the Korea Power Exchange will  close the bidding for clean hydrogen power projects on Friday. Five  companies are expected to participate: SK innovation E&S, Hanwha Impact,  Korea Southern Power Co., Korea East-West Power Co., and Korea Midland  Power Co. The Korea Power Exchange plans to announce the preferred  bidder in two weeks. The Korean government implemented the Clean Hydrogen Energy Portfolio  Standard (CHPS) in 2023, a move aimed at facilitating the transition to  clean hydrogen energy. The CHPS requires Korea Electric Power Corporation  (KEPCO) and other entities to prioritize annual purchases of electricity  generated from clean hydrogen and ammonia. The government launched the  world’s first clean hydrogen power generation market in May 2024 to  support this initiative. The initial tender is for 6,500 gigawatt-hours, enough to power about 1.55  million homes annually. The selected generators will be able to sell power to  KEPCO and other entities at fixed prices for 15 years, starting in 2027 or  2028. SK innovation E&S and Korea Midland Power plan to submit a joint  proposal for a liquefied natural gas (LNG)-hydrogen co-firing project in  Boryeong. SK innovation E&S also aims to establish a blue hydrogen  production base in Boryeong by 2028, which will produce 125,000 tons of  carbon-free blue hydrogen annually to fuel the co-firing power plant. Hanwha Impact is advancing a 120-megawatt hydrogen-fueled power plant  project in Daesan, South Chungcheong Province, while Korea Southern Power  is preparing an ammonia co-firing project at its Samcheok Green Power  Unit 1 coal plant, which will use 20 percent ammonia for power generation.  Korea East-West Power plans to use coal-ammonia co-firing at its  Dangjin plant by 2027, while Korea Midland Power is targeting ammonia co-firing at its Shin Boryeong Unit 2. For its part, Lotte Fine Chemical Co. is expected to supply clean ammonia to  the winning bidder among the three KEPCO subsidiaries. According to the government‘s 11th Basic Plan for Long-Term Electricity  Supply and Demand, hydrogen and ammonia power generation will account  for 2.4 percent of Korea’s energy mix by 2030 and 5.5 percent by 2038. “Achieving both power stability and carbon neutrality with renewables and  nuclear power alone is challenging,” an industry official said. “Clean  hydrogen power is expected to play a key role in reducing carbon emissions  from coal and LNG power generation.” (ICE SEOUL)

Fonte notizia: Pulse