23 April 2025 | 04:05 UTC — Insight Blog
South Korea is expected to issue a new 3,000 GWh low-carbon hydrogen-to-power tender this year
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South Korea may launch a new 3,000 GWh low-carbon hydrogen-to-power tender in 2025, incorporating lessons from the first tender, which was undersubscribed last year, industry members said. The new tender will be significant as a gauge of demand for the new fuel as well as a price benchmark for low-carbon hydrogen in Asia Pacific.
Both tenders are part of South Korea’s Clean Hydrogen Energy Portfolio Standards (CHPS), designed to promote the production and use of low-carbon hydrogen. CHPS launched its first 6,500 GWh low-carbon hydrogen-to-power tender in May 2024 which awarded only 750 GWh to Korea Southern Power Co. in November 2024, showing bidders were averse to risks related to forex and delivery.
This year, the eligible technologies or production pathways are expected to broaden with hydrogen produced from waste gas or biogas, also recognized as low-carbon hydrogen to encourage more participation in the upcoming tender, trade buzz suggested. However, central to the tenders’ success will be the design of the forex indexation and take-or-pay clause for bidders, according to the industry.
Among the revisions, industry members also expect the current definition of 'clean' hydrogen, to change. Hydrogen is considered ‘clean’ if its production results in up to 4 kg of CO₂ emissions per 1 kg of hydrogen. However, production pathways that emit much lower CO2, also get classified in the same category under the existing definition, which has led the trade to ask for a revision for greater fairness.
Price of the week: $3.83/kg
Platts, part of S&P Global Commodity Insights, assessed Japan hydrogen produced via alkaline electrolysis (including capex) at $3.83/kg on April 17, down 33.85% month over month. Platts assessed US Gulf Coast hydrogen produced via alkaline electrolysis (including capex) at $2.99/kg on April 17, down 6.56% from a month ago.
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Rotterdam completes first ammonia bunkering pilot, paves way for low-carbon transition
The Dutch port of Rotterdam has completed its first ammonia bunker operation, as Europe's largest marine refuelling hub readies itself for the alternative fuel amid tightening environmental regulations. The pilot project involved transferring 800 cu m of liquid ammonia -- or around 500 mt -- at minus 33 degrees C between two ships at the Maasvlakte 2 APM terminal, with the operation taking about 2.5 hours on April 12. The bunker operation came after the IMO approved new greenhouse gas regulations that will effectively penalize ships using conventional oil-based fuels from 2028. Singapore, the world's largest bunker port, had its ammonia bunkering pilot in March 2024.
INTERVIEW: All new Mitsubishi Power gas turbine projects in Europe are hydrogen ready, CEO says
Gas turbine demand in Europe is booming for manufacturer Mitsubishi Power, and all the orders in the works are for hydrogen-ready technology, the company's CEO for Europe, the Middle East and Africa, Javier Cavada said. The company has landed turbine orders for large-scale power plants in North Africa and the Middle East this year and sees strong demand in Europe too. Mitsubishi's turbines can already fire hydrogen mixes of up to 30%, with plans to achieve 100% hydrogen capabilities by 2030. Earlier in April, Mitsubishi Power received an order to supply six M501JAC hydrogen-ready turbines to projects in Saudi Arabia totaling 3.6 GW.
Platts Connect
The US-China trade conflict has prompted Chinese solar PV manufacturers to accelerate supply chain diversification, but given all the external uncertainties, tapping into the domestic market remains crucial for their continued survival and success. The administration of US President Donald Trump has imposed a tariff of 145% on imports from China, though the actual tariff rate varies depending on the product. Chinese solar manufacturing companies began supply chain diversification well before the latest trade conflict. Several solar manufacturing companies said they are used to tariff disputes and have built or are planning to build new manufacturing hubs overseas and explore new export markets.
INTERVIEW: Canada EV targets are now ‘impossible’ with tariffs, less incentives, trade group says
The Canadian electric vehicle market was already facing challenges with incentive programs running dry before tariffs came in, which are now making ambitious EV sales targets completely out of reach, according to the president of a Canadian auto trade group. EV sales have collapsed recently in Canada due to intense regulatory and economic uncertainty, Brian Kingston, president and CEO of the Canadian Vehicle Manufacturers' Association said. The group represents Ford, General Motors and Stellantis in Canada, all companies that shared concerns about the impact of tariffs on their businesses and previously tried to strike a deal with US President Donald Trump to avoid tariffs.
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