State-owned Kepco will buy the hydrogen power
South Korea to launch hydrogen power auctions
Pioneering tender process designed to spark competition in hydrogen-based generation
South Korea is preparing to hold one of the world’s first auctions for electricity generated from hydrogen in a move Seoul hopes will kickstart competition among nascent hydrogen-based power generation technologies and accelerate cost reduction. The auction, scheduled to launch in mid-July, is thought to be the first of its kind in the world and marks the first step in South Korea’s efforts to commercialise green and blue hydrogen-based power generation by 2027. It will also create one of the world’s first hydrogen consumption mandates. The tender will involve 650GWh of energy generated from ‘general hydrogen’—namely carbon-intensive grey hydrogen—for delivery in 2025, according to the Korea
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