[Provided by Pohang City]
[Provided by Pohang City]

Pohang city and Amun Energy signed an investment MOU Wednesday at Pohang City Hall to build renewable energy generation facilities at the Yeongil Bay 4 General Industrial Complex.

Pohang Mayor Park Yong-seon, Park Chil-yong, chairman of the Pohang City Council's Construction and Urban Affairs Committee, and Amun Energy CEO Kim Ki-tae attended the signing ceremony.

Under the agreement, Amun Energy will invest 20 billion won ($14.6 million) over five years from 2026 to 2030 to build a green ammonia-based hydrogen distributed power generation facility on a 10,000-square-meter site within the complex.

The facility will initially run a 1-megawatt power generation test before expanding capacity to a maximum of 40 megawatts.

The electricity produced will be supplied to companies in the industrial complex and to Korea Electric Power Corporation to ensure a stable power supply for the complex.

"Building on this investment, we will successfully establish a green ammonia-based hydrogen distributed power generation facility, supply stable and eco-friendly energy to local businesses, and grow into a company that leads the global hydrogen market," Kim said.

Mayor Park said the city would provide full administrative and institutional support so that businesses can firmly take root in Pohang and lead global markets, adding that "a company's success is Pohang's success."


kbj7653@heraldcorp.com