FuelCell Energy to power South Korean homes with new tech

FuelCell Energy will deliver 42 1.4MW fuel cell modules to Gyeonggi Green Energy (GGE) to support the upgrade of its Hwaseong Baran Industrial Complex fuel cell power platform in South Korea.

Earmarked as the “largest” fuel cell power platform in the world, located in Hwaseong-si, the plant has the capacity to produce 58.8MW of electricity, capable of powering around 135,000 homes. It can support Korea’s Hydrogen Economy Roadmap, which plans to supply 15GW of power from fuel cells by 2040.

It is expected that FuelCell Energy will receive approximately $160m of revenue under the terms of the agreement. The contract constitutes a significant milestone for supply clean caseload power to the Korean market and includes a seven-year service agreement pursuant to which FuelCell will service the fuel cell modules.

“Our new agreement with GGE reinforces our commitment to providing clean, efficient and reliable energy solutions to the Korean market,” explained Jason Few, President and CEO of FuelCell Energy.

“We look forward to bringing additional platforms to the country, such as our co-located power generation fuelled by biogas and our highly efficient and powerful solid oxide fuel cells delivering power and electrolysis.”

In June (2024), the company will host current and prospective customers in Korea to showcase its portfolio of clean energy offerings to support the country’s roadmap, including its solid oxide electrolysis technology and power generation.

Last year (2023), FuelCell Energy first signed a Memorandum of Understanding (MOU) with GGE, alongside a long-term service agreement with Noeul Green Energy, to increase its presence in South Korea.