Hanwha E&C, Panasia sign joint hydrogen production agreement

The construction division of Hanwha Corp. said on Wednesday that it has signed an agreement to produce hydrogen based on biogas with Panasia, an eco-friendly equipment company.

The two companies plan to jointly develop biogas-based hydrogen production technology. This is intended to secure competitiveness in green hydrogen production technology for achieving carbon neutrality.

Earlier on Dec. 8, the National Assembly of South Korea passed the Biogas Promotion Act for the creation of the biogas ecosystem at its plenary session.

Once the law is enforced, public- and private-sector participants will be given target quotas for biogas production above a certain level.

To reach the quota, they will need to purchase the performance of other producers. In addition to gas sales, biogas producers can also expect additional revenues from certification of production performances.

"We plan to develop a wind farm with a total capacity of 2 gigawatts by 2030. We will secure a competitive edge in the eco-friendly energy business areas by building capacities in biogas and green hydrogen generation," said an official of the Hanwha construction division.

Write to Eun-Ji Shim at summit@hankyung.com