Doosan forges ahead with fuel cell business in Korea

Doosan Corporation is to deliver fuel cells for a combined cycle power plant in Bundang, South Korea.

The deal is a world-first for double-layer fuel cells and the long-term service agreement for the plant is expected to be worth 40 billion won. In addition is represents the first supply deal since it added the fuel cell business as a new growth engine last year.

The company was selected by Korea South-East Power Co. (KOSEP) in an open tender worth 28 billion won (about $25 million).
Doosan Corporation also expects to sign a 40 billion won ($36 million) long-term service agreement (LTSA) for the operation of the fuel cells, which have a combined capacity of 5.6 megawatts.

The fuel cell takes up only half the space of previous fuel cells, making it a useful alternative in busy urban areas.

In Korea, the Act on the Promotion of the Development, Use and Diffusion of New and Renewable Energy requires utilities companies that generate more than 500 megawatts to source a certain amount of energy production from renewable sources. This target started at 2 percent in 2012 and will gradually increase to 10 percent by 2024.

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