With the aim of attaining carbon neutrality by 2050 by implementing a hydrogen economy, Korea Midland Power has set out to pioneer the Australian market, a potential nation for manufacturing clean hydrogen and ammonia.
The objective is to actively develop innovative and renewable energy technologies in order to produce sustainable future value through the construction of a system of strategic domestic and international commercial collaboration.
A MOU for the Australian Green Hydrogen Pilot Project was recently signed between the finance minister of Queensland in Australia and a Korean group made up of Korea Midland Power, LS Electric, Shinhan Bank, Aegis Asset Management, and Elecid. An MOU has been signed by a company to build 3MWp (megawatt peak) solar electricity in Queensland’s Kumbarila district and run a water electrolysis unit there to produce 300 kg of green hydrogen every day. The small-scale international pilot project that created the green hydrogen sells it exclusively to local customers.
In order to secure a favorable position for the green hydrogen and ammonia market, Korea Midland Power intends to initially develop a prototype project in Queensland with a low investment cost. Through this pilot project, it was determined to establish a foothold for future business growth by generating success stories.