Korea Electric Power Corp. (KEPCO) signed an MOU on cooperation in green hydrogen business with South Jeolla Province and Naju City on Sept. 2.
In May, the government decided to select KEPCO as a business operator to create and store green hydrogen through P2G (Power to gas) technology, which uses renewable energy surplus power, as part of the government's major tasks.
At the MOU, KEPCO will host the development and business promotion of green hydrogen technologies, while South Jeolla Province and Naju will provide administrative support such as support for solar energy facilities and licensing needed for hydrogen production.
The green hydrogen project is expected to solve the problem of renewable energy surplus power by producing hydrogen through the use of the ever-increasing amount of renewable energy under the government's "3020 Renewable Energy Plan," thus contributing to maintaining stability of the power system.
On the same day, KEPCO also signed MOUs with 17 companies and institutions, including Korea East-West Power, Korea Advanced Institute of Science and Technology (KAIST), and Hanyang University.
KEPCO will oversee the development and demonstration of P2G, methanization and operation technologies, and participating companies and institutions will cooperate to develop P2G hydrogen production, storage, methanization and operation systems.
"KEPCO will continue to work with South Jeolla Province, Naju City and participating agencies to meet the government's energy transition policy and make more efforts to develop small and medium-sized enterprises and communities," KEPCO CEO Kim Jong-kap said.