At the Kizard headquarters in the UAE Kizzard Industrial Complex, KEPCO, Samsung C&T Construction Division, and Western Power inked a cooperative development agreement with Petrolin Chemie, a UAE developer, for the UAE Kizard Green Hydrogen and Ammonia business.
This project will be carried out in two phases, with the goal of constructing a green ammonia manufacturing facility in the UAE’s Abu Dhabi Kizad Industrial Complex with an annual capacity of 200,000 tons. In addition, the scale will be enlarged to the second phase of production of 165,000 tons per year immediately following the first phase of green ammonia production of 35,000 tons per year.
This is Korea’s first overseas green hydrogen/ammonia project, and it brings together Korea Electric Power, Korea Western Power, and Samsung C&T’s construction divisions to form ‘Team Korea’ and compete in the massive future energy market, which is expected to be worth 130 trillion won per year by 2050. It’s a symbolic endeavor that’s just getting started.
By preoccupying the global hydrogen and ammonia industry and bringing new business models to unexplored areas, KEPCO, Korea Western Power, and Samsung C&T E&C will play a role as first movers.
This project aims to achieve the national greenhouse gas reduction target (NDC) and increase the ‘energy self-development rate’ through a cyclical method of ‘development-investment-production-transport-distribution’ as the first offshore green hydrogen business platform.
Participating enterprises will be the first to accomplish their carbon-neutral goals, and it is intended to boost corporate competitiveness in the global green hydrogen market and extend future growth engines through the extension and replication of future business models.
The government’s National Greenhouse Gas Reduction Target (NDC) aims to cut carbon emissions by 40% by 2030 compared to 2018 and attain carbon neutrality by 2050. The power generating industry, in particular, will demand 11 million tons of ammonia per year by 2030 and 13.5 million tons of hydrogen by 2050.
