ACWA, POSCO ink agreement to clean up industry in South Korea with hydrogen

Power and steel manufacturing is set to be cleaned up in South Korea under a new agreement, revealed today (July 19), to develop green hydrogen and green ammonia production capacity.

Saudi develop, investor and operator, ACWA Power has said the signed Memorandum of Understanding (MoU) with POSCO Holdings, the holding company for South Korea’s POSCO Group, seeks to produce green hydrogen and ammonia to support POSCO Group’s targets of producing 500,000 tonnes of hydrogen globally by 2030.

H2 View understands the hydrogen and ammonia produced is set to be used in across industry including its own power generation, construction, energy, and support other industrial off-takers in South Korea.

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