South Korea’s first commercial sales of green hydrogen to begin tomorrow, at price lower than production cost
South Korea’s first commercial green hydrogen sales will commence tomorrow, with Jeju Energy Corporation selling green hydrogen from its wind-powered facility at 15,000 won ($10.87) per kilogram, despite production costs of 19,800 won. To bridge the gap, Jeju Province is subsidizing the price by 4,800 won per kilogram. The hydrogen will be supplied to the Hamdeok green hydrogen bus refueling station, which is operated by Korea Gas.
The first commercial sales of green hydrogen in South Korea are due to begin tomorrow (Thursday), but the H2 will be sold for less than the cost of producing it.
The output from the Jeju Province-owned Jeju Energy Corporation’s 3.3MW wind-powered Haengyeon green hydrogen production facility is being sold to the province’s own Hamdeok green hydrogen bus refuelling station — but operated by Korea Gas — for 15,000 won ($10.87) per kilo.
Jeju — the 73km-wide island off the southern coast of the Korean peninsula — has estimated the cost of production at 19,800 won per kg, and therefore decided to offer subsidies of 4,800 won per kilo to cover the difference .
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