GILVERT ENERGY TOTAL CO., LTD
SCOPE OF PROJECT:
- The project is a combined and power (CHP) project to build a fuel cell power plant (40MW) and supply steam to nearby customers.
- The electricity generated from the fuel cells will be sold to the Korea Power Exchange (KPX, 100%) and the new renewable energy certificate, REC, will be
sold to the RPS obligations subjects.
- LNG is used as a fuel and stability against fuel supply is ensured
- The SMP price is linked to LNG, and risk for changes in LNG price is fully hedged, which can minimize the risk of investors
(1) No risk to LNG price change
- LNG price is linked with international oil price
- SMP price is linked to LNG price by 100% and there is little risk due to LNG price change
(2) No worries about fuel supply
- Korea’s LNG supply chain infrastructure is the world’s best system
- LNG supply is available 24 hours a day 365 days a year.
(3) Reduction of environmental pollution emission
- Almost no emission other than carbon dioxide (CO2) emissions
- Eco-friendly power plant can be operated
(4) Fuel cell power plant is operating in the center of the city, so there is no worry about complaints.
- It is also built in the heart of Seoul, where 10 million people lives
- No worries about complaints
- All licenses are acquired
(1) Be able to prevail to global new & renewable energy market
- Worldwide, fuel cell power plants are in the new energy sectors and are not yet widely deployed.
- Fuel cell power plant market is considered as the initial market, and expected expansion of market in the future.
(2) In response to the new and renewable energy policy in South Korea
- Up to 20% by 2030 from 10% of new & renewable energy by 2024 (Government Policy announced)
- The goal of the limitation of biomass fuel supply, RPS obligations are forced to pursue fuel cell power generation to meet renewable energy ratio.