Korea South-East Power Signs MOU for 320MW Green Hydrogen Complex

en.Wedoany.com Reported - Korea South-East Power (KOEN) has signed a memorandum of understanding with the Saemangeum Development Agency to build a large-scale green hydrogen complex in the Saemangeum area of Buan County, North Jeolla Province. The project aims to integrate solar power generation, green hydrogen production, and hydrogen-fueled power generation at a single site, targeting South Korea's clean hydrogen power market.

According to the plans disclosed under the agreement, the site covers approximately 10.1 square kilometers and is slated to include 1GW of onshore solar capacity, 320MW of water electrolysis units, and 100MW of pure hydrogen power generation capacity. KOEN and the Saemangeum Development Agency stated that this will be South Korea's first demonstration project to integrate solar power generation, electrolysis-based hydrogen production, and hydrogen power generation on a commercial scale.

The project adopts a "Power-to-Gas-to-Power" (P2G2P) system as its core technological pathway: solar power drives electrolysis equipment to produce green hydrogen for storage, and when the grid requires additional electricity, the hydrogen is converted back into electricity in dedicated turbines. KOEN stated that integrating the three stages helps absorb surplus renewable energy, enables dispatchable clean power production, and avoids curtailment when generation exceeds grid capacity.

The project is still in its early stages, and the MOU merely indicates an intention to proceed rather than a final investment commitment. KOEN is in discussions with multiple companies to establish a special purpose company and secure the supply chain for project equipment; the Saemangeum Development Agency will provide land, assist in streamlining permitting processes, and promote regional acceptance. KOEN is responsible for refining the business model and plans to share economic benefits locally, with an advisory group currently being formed.

The Saemangeum area already has a hydrogen industry foundation, including an operating commercial water electrolysis plant, as well as planned hydrogen and technology investments by Hyundai Motor Group in the region. The 320MW electrolysis capacity planned by KOEN will be significantly larger than existing facilities.

KOEN aims to connect the project to South Korea's clean hydrogen power market. South Korea's clean hydrogen power procurement volume for 2026 has been set at 500 gigawatt-hours, and electricity generated from stored hydrogen may qualify for long-term power supply contracts. KOEN considers this an important factor for the project, as the power-to-hydrogen-to-power pathway entails additional costs and efficiency losses compared to direct grid supply.