South Korea’s SK Group aims to become the leading hydrogen company in the world. It has now unveiled more information on its long term hydrogen strategy (2nd March) and said to invest around 18 trillion won (US$16 billion) over the next five years to establish the country supply chain. Its goal is to invest across the domestic hydrogen value-chain from production and distribution to consumption, and partner with international companies.
In the first stage, through its subsidiary SK E&S, it will produce 30,000 tonnes of liquefied hydrogen by 2023, which will then be ramped up to 250,000 tonnes/year between 2023 and 2025. The first phase is also a significant step, as it is one of the pillars of the Incheon city hydrogen cluster construction project.
In the second phase, the company will further expand its capacity reaching a total of 280k tonnes/year of hydrogen in Korea, and expand its hydrogen business across Asia, including China and Vietnam.
SK also plans to operate 100 hydrogen charging stations throughout the country by 2025, supplying 80,000 tonnes/year of liquefied hydrogen. It also plans to build a 400 MW fuel cell power plant with a dedicated 200,000 tonnes/year hydrogen pipeline.
Meanwhile, Hyundai and SK Group also signed an MoU to promote hydrogen-powered cars and refuelling infrastructure. SK agrees to replace around 1,500 vehicles on its sites with Hyundai hydrogen fuel cell vehicles. Both will build hydrogen refuelling stations at SK sites in Incheon and Ulsan by the end of 2021 and then further explore installations at SK gas stations.