The smart farm will use carbon dioxide and hot water generated by the hydrogen fuel cell plant to grow crops on about 60,000 square meters of land in Solaseado, a project eco-friendly city in Haenam near the southwestern port city of Mokpo.
A joint venture between Daewoo Engineering & Construction and MDM Asset Management, a real asset management company, would invest two trillion won ($1.5 billion) to build the fuel cell plant and the smart farm by 2026 under an agreement with South Jeolla Province on July 7.
"Based on the successful promotion of investment projects, we will lead South Korea's carbon neutrality and establish our province as the world's No. 1 hydrogen industry mecca," South Jeolla Province Governor Kim Yung-Rok said in a statement. A solar power complex has already been built in Solaseado, which aims to attract private investments for the construction of leisure, residential and commercial facilities.
Hydrogen fuel cells use hydrogen as fuel to produce electricity. Small-sized cells are installed in eco-friendly vehicles while larger cell systems are used in power generators. South Korea is investing heavily to utilize hydrogen fuel cells as a new power source.
In February 2022, Doosan Enerbility, a key player in South Korea's power industry, signed a business cooperation agreement with Korea Midland Power and JC Energy to promote a 100MW fuel cell power generation project in Yeongam, a county adjacent to Haenam. Doosan will supply a hydrogen turbine and fuel cells.
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