Doosan Fuel Cell Participates in the Fuel Cell Pilot Project at the Ulsan-Mipo Industrial Complex
-Aims to enter a VPP(Virtual Power Plants) platform business, expecting to promote various business opportunities moving forward
Doosan Fuel Cell decided to join a fuel cell pilot project using by-product hydrogen generated at the Ulsan-Mipo industrial complex.
Doosan Fuel Cell announced that they signed an MoU remotely to develop a load response fuel cell demonstration project with KHNP(Korea Hydro & Nuclear Power), Hyundai Motors, LS ELECTRIC and SK GAS on the 3rd at the Ulsan-Mipo industrial complex.
This agreement aims to develop a load response fuel cell plant using by-product hydrogen generated at the Ulsan-Mipo industrial complex. This project will accept the load response scheme interconnected with Virtual Power Plant(VPP)* platform, adjusting generation depending on System Marginal Price (SMP) and fuel prices.
* Virtual Power Plant(VPP) : a network of decentralized, medium-scale power generating units, such as fuel cells, solar panels, and other renewable units. Cloud-based AI software combines these generators to work as one power plant.
** System Marginal Price(SMP) : the cost of the most expensive generating units.
The power plant will be built in the premises of Michang(2753m2) at the Ulsan-Mipo industrial complex. Doosan will supply 3.08MW PAFC to generate base load and offer long-term services under the LTSA(Long-Term Service Agreement).
Fuel cells are very responsive distributed generators as they easily modify its generation to meet fluctuating power demand. That’s why a fuel cell is a good fit for mitigating intermittent renewables, such as solar panels and wind turbines. In the meantime, fuel cells do not require power transmission, distribution, and substation facilities, not mention to zero power loss during power transmission and distribution, saving socioeconomic costs.
“We’ve already successfully completed a fuel cell power plant project which leverages by-product hydrogen,” said Sookyung Yoo, CEO of Doosan Fuel Cell. “That prowess and experience allow us to take a critical role in this project. We will remain committed to working closely with other participants to create various opportunities in by-product hydrogen fuel cells.”
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