The Gangdong Fuel Cell Project will sell electricity to Korea Electric Power Corporation (KEPCO), the sole off-taker of wholesale power generation in South Korea, through the Korea Power Exchange. Additionally, the Project will sell thermal energy and also receive renewable credits in the form of renewable energy certificates (REC) with respect to its electricity generation output.
A fuel cell is an electrochemical device that combines hydrogen from natural gas and oxygen to produce electricity and heat. Fuel cells operate without combustion and it is considered as an option for a reliable source of power.
'We are excited to further strengthen our partnership with SK E&S to meet growing demand in South Korea for clean and reliable electricity. The Gangdong Fuel Cell Project will enable Paju ES to fulfill a portion of its Renewable Portfolio Standard obligations on a long-term basis and generate incremental economic earnings to Paju ES.,' Mr. Jakgrich added.
After the completion of the new project, EGCO Group will have interests in 2 power plants in South Korea with total equity capacity of 902.97 MW.
About Paju ES
Paju ES owns and operates Paju Power Plant, a 2 x 911.5MW combined cycle gas-fired power plant fueled by imported LNG, which is located in Paju City, Gyeonggi Province of South Korea.
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EGCO - Electricity Generating pcl published this content on 04 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2019 11:02:03 UTC