South Korea’s Saemangeum Development Authority (SDA) and Korea South-East Power (KOEN) plan to set up a 320MW electrolyser and 100MW hydrogen-fuelled power plant in the country’s coastal region.
SDA said that business plans, project partners, and investment figures and timelines for the facility could be settled in autumn this year.
Planned for the Saemangeum tidal area, the project would see 1GW of solar generation, 320MW of green hydrogen production, and 100MW of hydrogen gas-fired power generation.
A memorandum of understanding between the pair outlines SDA overseeing site provision, permitting and approvals, while KOEN will recruit partners and manage business models.
SDA said the site benefits from large-scale renewable energy potential and major infrastructure links, making it “the optimal location” for green energy projects.
Moon Seong-yo, head of SDA, said the project represents a “new industrial model,” adding that the organisation would provide “unsparing support” for companies innovating in Saemangeum.
It comes as South Korea and the wider Asia-Pacific region continue to explore hydrogen and derivatives for power generation.
South Korea’s Ministry of Climate, Energy and Environment recently launched a tender for 1.43TWh of power, including 500GWh of power classed as “clean” and accommodating hydrogen-derived fuels.
Countries like Japan and Singapore have also tendered for assets fuelled by hydrogen and derivatives. In April, Singapore’s Energy Market Authority opened a call for proposals for three hydrogen-ready gas power plants to be online in 2032.
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