South Korea picks winner for world’s first clean hydrogen power bid

A total of six power plants participated.

South Korea’s Ministry of Trade, Industry and Energy (MOTIE) has announced that a sole bidder won in the world’s first clean hydrogen power generation bidding market.

In a statement, Korea Power Exchange, which is under MOTIE, said a power plant with a bid of 750 gigawatt-hour (GWh) per year was selected as the final successful bidder. It was picked from a total of six power plants that participated in the bid with a net of 6,172 GWh.

The bid winner plans to produce electricity using clean fuel that fulfills Korea’s clean hydrogen certification standard requiring that greenhouse gas emissions be 4㎏CO2eq or less per 1kg of hydrogen.

Commercial operation will begin in 2028, whilst electrical power can be auctioned for up to 15 years starting from the commercial operation date.