South Korea launches world's 1st clean hydrogen power bidding market

The contract period should span 15 years.

South Korea rolled out the first clean hydrogen power bidding market globally with an annual bidding volume of 6,500 gigawatt-hours.

In a statement, the Ministry of Trade, Industry and Energy said participants in the bidding are allowed to harness power generators using only hydrogen that meets the domestic clean hydrogen certification standards of four kilograms (kg) of carbon dioxide equivalent greenhouse gas or less per 1 kg of hydrogen.

Participants may bid green hydrogen with a contract period of 15 years, slated to start commercial operations by 2028 after a three-year preparation period and one-year grace period.

The ministry added that the bid notification period will be 24 weeks, with the winning bidder to be selected in December based on price indices, clean hydrogen utilisation grade, fuel supply stability, and level of contribution.

It added that the power bidding market for general hydrogen will also be launched this year, with a bidding volume of 1,300 gigawatt-hours and a power generation contract of 20 years.

Follow the link for more news on

South Korea Renewable Energy

Also Read

JERA sells stake in Thai solar project

World’s largest solar and battery storage facility breaks ground in PH

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit