South Korea

INOXCVA, a Vadodara-headquartered cryogenic solutions manufacturer, has designed, engineered, and manufactured the largest liquid hydrogen tank ever made in India. The tank will be deployed in South Korea’s first hydrogen liquefaction plant, with 5 tons of daily capacity, in order to supply hydrogen charging stations for buses, trucks, and trams.

A new Wood Mackenzie report suggests that costs for front-of-the-meter battery storage systems in the Asia-Pacific region could fall by 30% by 2025. The declining costs are already having a palpable impact, as 2021 has opened with a slew of large-scale battery project announcements.

Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.

The New Delhi-headquartered power trading company has signed a Memorandum of Understanding with the South Korean power plant maintenance specialist to acquire and revive stressed assets in the power sector.

Floating PV specialist Ocean Sun and South Korean energy company EN Technologies have signed an agreement to develop the pilot projects of the 2.1 GW floating solar site planned near the Saemangeum tidal flat, on the coast of the Yellow Sea.

Proposals must reach the Department of Science & Technology (DST), Government of India, and Ministry of Science and ICT (MSIT) of the Republic of Korea by May 8. Each selected project will be funded for a period of three years.

WoodMac analysts say the amount of new battery manufacturing capacity added in the nation this year could fall by as much as 10% because of the outbreak. With Tesla’s Shanghai gigafactory affected by the extended new-year-holiday shutdown, the analyst warned of potential supply shortages for Australia and the U.S. and U.K.

The string of fires that shook up South Korea’s booming energy storage market throughout 2018 brought development to a screeching halt this year. Throughout the lackluster first half of 2019, manufacturers, installers and analysts remained cautiously hopeful that a government investigation into the fires might plant the seed for late-year market growth. However, another outbreak of fires in the months since the conclusion of the probe has shaken industry morale once again, snuffing out any lingering hopes for a quick recovery.

The Indian developer will hold majority 51% equity in the joint venture, while the balance will be held by GS E&C. The project is part of the capacity auctioned by Solar Energy Corporation of India (SECI) under its tranche-IV earlier this year.

Market intelligence company Navigant Research has developed a country forecast of the global market. Incentives and pricing will be the main driver of installations, though the market will continue to be concentrated in certain key regions, including India, for now.