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Korea: Financial Agreement Signed for the Incheon Hydrogen Fuel Cell Power Plant

By May 5, 2020 2   min read  (320 words)

May 5, 2020 |

Incheon Fuel Cell Agreement

Despite public opposition, the construction of the 1,000 MW Incheon hydrogen fuel cell power plant is due to be completed by June next year.

Operator Incheon Fuel Cell announced on April 29th that it has signed a financial agreement with five financial institutions, including Kookmin Bank.

The electricity produced from the hydrogen fuel cell power plant will supply the entire Dong-Songhyeon region via a substation. The power plant will be able to produce 1,000 MW of hydrogen fuel cell electricity per month. It is capable of supplying 85,000 households each month.

A spokesman for Incheon Fuel Cell said: “Following the successful completion of the financing agreement, we aim to build a safe power plant, test and complete it by June next year. Construction was halted for a time due to safety and environmental concerns of local residents. Residents and lawyers had negotiated and reached an agreement in November this year, the representative said.

Operator Incheon Fuel Cell announced on the 29th that it has signed a financial agreement with five financial institutions, including Kookmin Bank. The electricity produced will be supplied to the entire Dong-Songhyeon region via a substation. It measures 39.6 km2 and can produce 1,000 MW of hydrogen fuel cell electricity per month. Due to its capacity of 1.5 million kWh per year, it can supply enough electricity for the number of households for one month, or enough electricity for 1 million households.

A spokesman for Incheon Fuel Cell said: “Following the successful completion of the financing agreement, we aim to build a safe power plant, test and complete it by June next year. Construction was halted for a time due to safety and environmental concerns of local residents. Residents and lawyers had negotiated and reached an agreement in November this year, the representative said.

Despite public opposition, construction of the 1,000 MW Incheon hydrogen fuel cell power plant has been delayed by almost a year and is due to be completed by June next year.

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