Doosan Fuel Cell stated that it would establish a joint venture with China’s ZKRG Smart Energy Technology and sign a contract worth 346.9 billion won to deliver hydrogen fuel cells to ZKRG (JV).
As part of this agreement, Doosan Fuel Cell would gradually export 105 MW worth of hydrogen fuel cells to China. By 2024, 50 MW of these will be shipped as finished goods, and by 2026, 55 MW will be exported as parts.
In China, a company called ZKRG is involved in the cogeneration market for hydrogen fuel cells. It delivered four 440kW hydrogen fuel cells from Doosan Fuel Cell to Nanhai, Foshan, China, in September of last year.
The two businesses agreed to work together through the creation of a joint venture to support the development of a market for hydrogen fuel cell power generation in China, find and market business opportunities, and will initially provide hydrogen fuel cells to the “carbon emission-free hospital pilot project” planned in Guangdong Province, China.
This contract benefited from the fact that China is developing a decentralized district heating system infrastructure in addition to growing its interest in environmentally friendly energy hydrogen.
Since 2019, China has actively implemented a number of regulations to support the development of the hydrogen energy sector. In addition, China for the first time this year released a mid-to-long-term strategy for the whole hydrogen industry in March. According to the “Hydrogen Energy Industry Mid- to Long-term Plan (2021-2035)” of the Chinese central government, it intends to establish a fully functional hydrogen industry technology innovation system, a green hydrogen supply system, and a diverse hydrogen use ecosystem by 2030.
As a result, local governments in places like the Yangtze River Delta, the Pearl River Delta, and the capital economic zone (Beijing, Tianjin, etc.) are currently promoting pilot projects of hydrogen fuel cells for power generation.
In fact, there is a large need for cogeneration hydrogen fuel cells that can generate both heat and power in Guangdong Province and Hebei City Cluster, among other places. Doosan Fuel Cell It is anticipated that demand for phosphoric acid fuel cells (PAFC) will increase further.
Doosan Fuel Cell in the prince’s seat The CEO added, “Doosan Fuel Cell is ZKRG.” Given the high degree of confidence and business understanding between the two enterprises, we anticipate synergy to steadily increase as a partner who worked together to export hydrogen fuel cells outside for the first time in Korea. By creating a firm for the construction and maintenance of fuel cell plants, we can speed up supply expansion.