 |
(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Doosan Fuel Cell has secured a 100 billion won contract for the maintenance and servicing of hydrogen fuel cells. On August 9, the company signed a Long-Term Service Agreement (LTSA) with UH Power for a hydrogen fuel cell system with a capacity of approximately 40 megawatts (MW). Under this agreement, Doosan Fuel Cell will manage all maintenance and service operations for the fuel cell system until 2046, a span of 20 years.
In December of last year, Doosan Fuel Cell had already secured a 140 billion won contract with UH Energy to supply around 100 units of 400-kilowatt (kW) hydrogen fuel cells, known as the 'Fuel Cell Model.'
The South Korean government has introduced the 'Clean Hydrogen Power Generation Obligation System (CHPS)' in December 2022 to promote the hydrogen economy. This policy mandates that power generators produce a certain amount of electricity from hydrogen power. Additionally, a 'Hydrogen Power Generation Bidding Market' was established in June of the previous year to purchase and supply electricity generated from hydrogen power.
This has accelerated Doosan Fuel Cell’s growth. In the second quarter of this year, the company's revenue reached 86.5 billion won, marking a 75.9% increase from the previous year. The revenue is expected to improve further in the latter half of the year as contracts for hydrogen fuel cells signed last year start contributing to the company's financial performance.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
