Hanwha Solutions, SK D&D team up for hydrogen fuel cell, solar power

South Korea's Hanwha Solutions Corp. and SK D&D have signed a strategic memorandum of understanding (MOU) to jointly pursue hydrogen fuel cell and solar power generation projects, according to a joint announcement by the companies on Wednesday.

The two companies will jointly pursue hydrogen fuel cell power generation projects with the aim of participating in the domestic hydrogen power generation auction market.

Hanwha Solutions will be responsible for securing land and applying for permits for hydrogen fuel cell power generation, while SK D&D will supply fuel cells and operate and manage power plants.

Hanwha Solutions plans to build a 20-megawatt (MW) hydrogen fuel cell power plant with SK D&D in the metropolitan industrial complex that is under construction. The power plant is scheduled to start construction in the first quarter of 2025, and once it is completed, it is expected to produce an annual power generation of 47,000 households.

In addition to the hydrogen fuel cell power plant, Hanwha Solutions, and SK D&D also plan to jointly develop and invest in renewable energy-related businesses such as solar power generation.

Write to Hyung-Kyu Kim at khk@hankyung.com