Hyundai Motor signs Korea’s largest renewable energy purchase deal

Quick Summary:

South Korea’s top automaker Hyundai Motor Co.said on Wednesday it has signed a deal to procure 610 gigawatt-hours (GWh) of renewable energy annually over the next 20 years from four domestic power generating firms – the largest renewable energy supply deal in the country.

GS E&R will also provide Hyundai Motor with over 130 GWh of wind power energy annually starting in 2027 – a contract representing the largest renewable energy supply to a company from a wind farm in Korea.

Under the power purchase agreement (PPA), Hyundai will receive renewable energy from GS E&R Corp., Hyundai Construction & Engineering Co.(Hyundai E&C), SK E&S Co.and Enlighten Co.to power its domestic operations.

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Article Details

Category: Economy

Markets: South KoreaCzech RepublicIndiaIndonesiaTurkey

Topics: 100% Motor Power Energy Domestic Renewable Facilities Deal Automaker Solar Hyundai

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 20:08:23 (1 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 265 words

Reading Time: 2 minutes read

Sentences: 14 lines

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Copyright Owner: © Korea Economic Daily

News ID: 23338011

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