POSCO begins construction of fuel cell stack-manufacturing plant
SEOUL –POSCO (KSE:005490), South Korea’s leading steelmaker, broke ground on Wednesday for a plant that manufactures a fuel cell stack, a key component of a fuel cell power system, taking a step closer to the localization of the power system.
POSCO’s utility unit, POSCO Power Co., will spend 70 billion won (US$62.4 million) on the plant in the southeastern city of Pohang.
The plant, projected to become operational by the end of this year, will have an annual production capacity of 100 megawatts worth of fuel cell stacks, the steelmaker said.
In a fuel cell system, individual fuel cells can be combined in series into a fuel cell “stack” to achieve the desired voltage.
POSCO Power has been operating production facilities of so-called balance of plant (BOP) in South Korea since 2008, or power generation assisting devices, such as circuits controlling the power generation.
Currently, POSCO Power is operating fuel cell power plants generating 23 megawatts in South Korea.
POSCO Power realized the 45 per cent of localization for fuel cell power generating system such as the establishment of infrastructure for maintenance and installation construction service and so on.
Fuel cell power systems convert the chemical energy of a fuel and an oxidant directly into electrical energy and heat using electrochemical processes, not combustion.
