SK E&S and SK Plug Hyverse will work with Korea Southeast Power Generation (KOEN) to cooperate with green hydrogen and green ammonia projects based on renewable energy resources at home and abroad.
SK E&S signed an MoU with SK Plug Hyverse and KOEN regarding cooperation for carbon neutrality and the production of green hydrogen and green ammonia, which will be consumed for co-firing at KOEN’s natural gas and coal-based thermal power plants by using electrolyzers to be produced in Korea by SK Plug Hyverse.
Green hydrogen and green ammonia co-firing are gaining attention as eco-friendly and relatively low-cost solutions for existing thermal power plants that can significantly reduce greenhouse gas emissions.
SK Plug Hyverse is a joint venture (JV) formed in January of this year by SK E&S and Plug Power to pursue integrated solutions throughout the clean hydrogen value chain in Asia, including electrolyzers.
Ji Young Lee, CEO of SK Plug Hyverse and Head of Global Hydrogen Business of SK E&S, stated that “We are thrilled to join forces with KOEN for endeavors to lead the transition of Korea into a carbon-neutral era.”
Sang-pyo Eun, vice president and head of South-East Power’s new business division, said, “Using this MOU as an opportunity, we will reliably generate hydrogen and ammonia overseas with SK E&S, a leading firm in the hydrogen economy, and introduce it into Korea to become an energy company leading the national carbon neutrality and the hydrogen economy.”