DL Energy invests in Yeosu Hydrogen Fuel Cell Power Plant

DL Energy has signed a KRW 50 billion financial agreement with Mirae Asset Securities to construct Yeosu Hydrogen Fuel Cell Power Plant.

The project has been developed by DL Energy since early 2019, with DL Energy establishing Eco One Energy to be in charge of the project in March. Construction is slated to commence this month. The power plant is expected to start commercial operation in September 2023 after 16 months of construction.

The power plant will be built on an 8,200 ㎡ site within Yeosu National Industrial Complex with a total project cost of KRW 100 billion. Power generation capacity is 18.5 MW, and 150,000 MWh of power can be produced annually, which can be used by 50,000 households. As power generation fuel, hydrogen will be supplied through pipes from the bi-product hydrogen generated in the process of Yeocheon NCC located near the power plant.

Through eco-friendly power generation that does not discharge environmental pollutants such as CO2, sulfur oxides, or nitrogen oxides, its value is high from the ESG management aspect. The influence of electromagnetic waves of the fuel cell is lower than that of the PC monitor.

DL Energy has added hydrogen to the new renewable energy power generation portfolio, following biomass, wind power, and solar power. As a sole shareholder of Eco One Energy, the company has positioned itself as a private power generation developer by performing a series of processes including the initial stage of project planning, power generation permission, securing of major equipment, and financial procurement with its own capabilities.

Jeon Byung-wook, DL Energy CEO, said, “The project is in line with the government’s hydrogen economic activation policy and is a project contributing to the local economy. We will strengthen ESG management by steadily expanding the renewable energy business including wind power and solar power in Korea.”