Bloom Energy is partnering with SK Engineering and Construction to deploy two new clean energy facilities with fuel cell technology in Gyeonggi Province.
The power plants will be located in the cities of Hwasung and Paju and will leverage Bloom Energy’s non-combustion, electrochemical process to produce low-carbon electricity with lower and predictable energy costs and enhanced reliability.
The Hwasung power plant will comprise a 19.8MW fuel cell deployment and will be Bloom Energy’s largest project in South Korea and the company’s second-largest in the world.
This deployment marks the first-ever solid oxide fuel cell project financed in Korea, with over 141 billion KRW ($118.7 million) of debt and equity financing. The solid oxide fuel cell installment provides a new source of electricity to meet growing energy demand. This facility alone is designed to generate enough electricity to power approximately 43,000 homes in the area.
The Paju power plant will consist of 8.1MW fuel cell technology which will power nearly 18,000 homes. The plant will also supply residents in rural areas with natural gas via new city pipelines for the first time.
South Korea is a leader in fuel cell technology deployment with its six power generation companies having deployed approximately 300MW of fuel cell power to date.
This follows the government releasing a Hydrogen Economy Roadmap in 2019 calling for 15,000MW of stationary fuel cells by 2040.
KR Sridhar, founder, the CEO of Bloom Energy, said: “South Korea is clearly on the leading-edge of our world’s energy future. And, this utility-scale deployment of fuel cells is a powerful proof point of its ambitious energy plan. Bloom Energy is proud to support this visionary effort to make clean, reliable, resilient, and adaptable power generation.”
Jason Ahn, President and CEO of SK E&C, adds: “We must all be thinking about how to provide the energy needed today while also contributing to the betterment of our air and environment.
“Embracing technology advancements, like those from Bloom Energy, addresses energy needs and benefits to the environment and society.”