South Korea

While there are still many uncertainties as to the way in which hydrogen trade might evolve and change economic ties and political dynamics between countries, experts agree that green hydrogen can bring winds of change to the global energy arena. According to the International Renewable Energy Agency, significant geoeconomic and geopolitical shifts are just around the corner.

LG Chem’s energy storage and battery division’s US$10.7 billion (AU$14.8 billion) initial public offering received a staggering response from institutional investors, Reuters has reported.

Korea Zinc, non-ferrous metal smelting company, has agreed to invest $50 million in Energy Vault, a Switzerland-based gravity storage specialist, in order to use its tech to decarbonise its refining and smelting operations in Australia.

Hydrogen is frequently touted as a major player in decarbonisation, and it is. But it will only be used at scale much later, and at a much lower level than solar and wind.

The 41 MW facility was built by Korean developer Scotra with solar modules provided by South Korea-based manufacturer Hanwha Q-Cells. It was deployed on a water reservoir at the Hapcheon dam, in the South Gyeongsang province.

The continuous rise in solar panel prices may affect PV projects of up to 1 MW tendered by the Korea Energy Agency and the domestic solar module industry may not be able to provide the necessary production capacity to respond to the recent supply bottleneck.

The record efficiency was obtained thanks to an interlayer placed between the electron-transporting layer and the perovskite layer, which eliminated the need for passivation. The cell was also able to retain around 90% of its initial efficiency after 500 hours under standard illumination.

The US$1.28 billion (AU$1.7 billion) plan includes a 3.1 GW production capacity expansion in South Korea, where the company’s solar module capacity will reach 7.6 GW by 2025.

Developed by the Korea Institute of Energy Research (KIER), the “non-destructive” technology is claimed to enable the recovery of 100% of a module’s glass and to allow the reuse of silicon for producing new solar cells with an efficiency of 20.05%.

LG Energy Solution has agreed to take 100% of the cobalt and nickel from the proposed Sconi Project in Queensland. The company says the deal will give it an “upper hand” in EV battery production and improve its ESG competitiveness.