The agreement is aimed at expanding cooperation in power projects tied to industrial complexes and distributed energy, drawing on both companies’ experience and capabilities in power generation development.
Under the MOU, the companies said they plan to work together on power development projects at major domestic industrial complexes and in distributed energy; cooperate on government policy programs such as RE100 industrial complexes and clean hydrogen power generation; identify and attract new energy-intensive demand, including from AI-related advanced industries; and coordinate on permitting for new power projects.
They also said they will jointly review ways to build a distributed energy model centered on industrial complexes, based on a structure in which energy is consumed where it is produced.
In addition, the companies said they will continue cooperation on energy operations linking renewable energy, distributed power sources and combined heat and power, and on the potential application of low-carbon generation technologies such as hydrogen co-firing.
Hanwha Energy will handle project development, including fuel supply, securing demand and sites, and planning business models, the companies said. Korea East-West Power will provide technical support and operational cooperation based on its operating experience and technical capabilities.
“This cooperation will serve as an opportunity to lay the groundwork for collaboration on power development projects centered on industrial complexes,” Hanwha Energy CEO Lee Jae-gyu said. “Through cooperation with Korea East-West Power, we will continue to identify new business opportunities.”
Korea East-West Power President Kwon Myung-ho said it was meaningful to build a cooperative relationship with Hanwha Energy to develop the distributed energy market. “Based on the two companies’ expertise and experience, we will strengthen competitiveness and continue to identify new opportunities in future energy markets, including distributed energy,” he said.
* This article has been translated by AI.
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