South Korea Pioneers Hydrogen Economy with Investments in Fuel Cell Power Stations

NEW DELHI--March 27, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--South Korea is making significant progress toward the adoption of sustainable energy solutions. In recent years, fuel cell technology is one such solution that has witnessed remarkable growth in South Korea, especially in the development and deployment of fuel cell power stations in response to the nation's growing environmental awareness and efforts to attain net-zero emissions. According to the Korean Hydrogen Fuel Cell Industry Association and Korea Power Exchange, South Korea became the first country to install more than 1 gigawatt of installed fuel cell capacity for power generation in 2023. Industrial Info is tracking more than 200 projects of fuel cell power stations with investments worth US$26.82 billion in South Korea.