SK eternix said Tuesday that its "Icheon and Paju Fuel Cell Power Generation Project," launched to meet power demand in the metropolitan area, has entered commercial operation.
It is a project to build fuel cell distributed power clusters at three sites: Icheon Eco Park, Paju Eco Park Unit 1, and Paju Eco Park Unit 2, with a total investment of 159.4 billion won. The prime movers utilize Bloom Energy's high-efficiency solid oxide fuel cells (SOFC).
SK eternix has installed power generation facilities with a total capacity of 28 megawatts (MW) and is expected to generate 222 gigawatt-hours (GWh) of electricity annually. This amount of power is sufficient for approximately 53,000 households to use over the course of one year.
Icheon Eco Park (8.9 MW) and Paju Eco Park Unit 1 (9.9 MW) began commercial operation on the 19th, while Paju Eco Park Unit 2 (9.2 MW) is scheduled to enter commercial operation next month. If all projects under this initiative commence commercial operation by year-end, SK eternix will achieve a cumulative fuel cell operating capacity of 228 MW.
This project was undertaken in line with the intent of the hydrogen power generation bidding market system, aiming to proactively secure distributed power sources in regions where an expansion of power demand is anticipated.
Since 2023, SK eternix has identified project sites considering the power demands of semiconductor clusters and artificial intelligence data centers (AIDC), and has carried out all stages of the business process, including permits and approvals, grid interconnection, engineering, procurement, and construction (EPC), and financial structuring.
Subsequently, in 2024, all three projects were selected through the general hydrogen power generation competitive bidding. Last year, the company established a foundation for stable project execution by co-investing with Inseong Co., Ltd., which possesses operational management capabilities, to establish Inseong Dream Eco Park Co., Ltd.
Fuel cells offer the advantage of being able to respond quickly to power demand due to fewer site constraints and shorter construction periods. In particular, they are a high-value generation source as distributed power because they can reduce reliance on long-distance transmission in areas adjacent to industrial complexes or urban centers.
With this commercial operation, SK eternix plans to continue expanding its fuel cell-based distributed power business to resolve power supply constraints caused by grid bottlenecks.
Furthermore, the company aims to leap forward as a comprehensive energy solution provider capable of responding to large-scale power demands such as AIDCs by combining fuel cells with solar, wind, and energy storage systems (ESS), and linking these with power trading capabilities such as direct power purchase agreements (PPAs), power brokerage, and virtual power plants (VPP).
Kim Hae-joong, CEO of SK eternix, said, "The Icheon and Paju Fuel Cell Power Generation Project is the fruit of combining the significance of a local production, local consumption project that considers expanding power demand and grid conditions with SK eternix's project execution capabilities."
He added, "Going forward, we will expand distributed power business centered on demand sites and provide customer-tailored comprehensive energy solutions by combining renewable energy generation, energy storage systems, and power trading."
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