KRPNI Accelerates Renewable Energy Business "Benefiting from Green New Deal"

[Asia Economy Reporter Hyungsoo Park] KRPN is expanding its business portfolio centered on renewable energy, and expectations for benefits are growing as the government strengthens its Green New Deal policy.

KRPN announced on the 19th that it expects policy benefits through diversification of its business portfolio, including biofuels, hydrogen fuel cells, and wind power generation.

KRPN is promoting the hydrogen fuel cell business centered on 'AcroLabs' along with biofuel businesses such as bio heavy oil and bio marine fuel. It is also conducting wind power generation business by acquiring the Hajang 2 Wind Power Complex.

It has formed a strategic alliance with Daehan Green Energy, a renewable energy specialist company that developed, started construction, and operates the largest domestic wind power plant, Yeonggwang Wind Power (79MW), and the largest solar power plant, Gwangbaek Solar Power (99MW). It decided to invest 10 billion KRW as a co-developer in the 160MW Chil-san Offshore Wind Power Project.

A KRPN official explained, "Through joint development investment, we will actively collaborate with Daehan Green Energy, the leading company in domestic wind power generation," and added, "Our business capabilities related to renewable energy will be strengthened."

He continued, "Recently, domestic and international policies have been acting favorably," and said, "We expect to increase corporate value by promoting the business."

Recently, President Moon Jae-in announced the 'Green New Deal' business plan following the 'Korean New Deal.' He instructed the Ministry of Trade, Industry and Energy, Ministry of Environment, Ministry of SMEs and Startups, and Ministry of Land, Infrastructure and Transport to cooperate for the project implementation. The Green New Deal aims to create large-scale jobs by transitioning the existing fossil energy-centered energy policy to a low-carbon economic structure such as renewable energy.

According to the 'New York City Green New Deal Policy and Implications' published by the Korea Research Institute for Human Settlements, New York City enacted the Green New Deal law and expects to create about 26,700 green jobs annually. The European Union is continuously discussing economic stimulus policies related to the Green New Deal.

A KRPN official said, "The policy direction of the Green New Deal is part of the renewable energy promotion policy continuously pursued by the Moon Jae-in administration and the ruling party," and added, "Since 1.247 trillion KRW of national budget has been secured to expand renewable energy, the market will grow rapidly along with the Korean-style Green New Deal."

This content was produced with the assistance of AI translation services.