RE100 Participating Companies Request Government to Expand Renewable Energy Distribution

Ministry of Trade, Industry and Energy Holds Meeting with RE100 Participating Companies

[Sejong=Asia Economy Reporter Kwon Haeyoung] Companies participating in the global 'RE100' campaign, which aims to supply 100% of electricity consumption from renewable energy by 2050, urged the government to expand the distribution of renewable energy. The government plans to reflect these opinions and prepare measures to revitalize RE100, including system improvements and incentives.

On the 13th, Park Ki-young, Vice Minister of the Ministry of Trade, Industry and Energy, held a meeting with representatives of companies participating in 'RE100'. This meeting was organized to share the operation status and policy direction of the Korean-style RE100 system, which has been implemented since this year, with companies and to collect their opinions. There are 13 domestic companies that have joined the global RE100 campaign, and 5 companies are awaiting approval after declaring their participation.

The participating companies requested the expansion of renewable energy distribution to smoothly implement RE100 domestically. They also suggested improving the system to ease the cost burden of RE100 implementation and to facilitate participation by small and medium-sized enterprises (SMEs) and mid-sized companies.

In response, the government plans to prepare support measures such as diversifying RE100 participation methods and providing incentives for participating companies. In particular, using the green premium funds paid by companies, a support project for small and medium-sized partner companies of RE100 participating companies will be carried out within this year. To activate the Korean-style RE100, the government will encourage domestic foreign-invested companies participating in the global RE100 to join K-RE100 and will also seek to discover RE100 implementation models in industrial complexes. Additionally, support measures such as strengthening financial support for RE100 participating companies, supporting renewable energy facility distribution and consulting, RE100 product certification (labeling), and promoting RE100 products will be prepared.

Furthermore, companies also requested allowing joint purchasing methods for direct power purchase agreements (PPA). They asked for easing the additional fee burden associated with renewable energy purchases and improving implementation conditions such as incentives for RE100 participating companies.

Vice Minister Park Ki-young of the Ministry of Trade, Industry and Energy stated, "As ESG (Environmental, Social, and Governance) management expands in response to carbon neutrality and climate change, RE100 is establishing itself as a global standard," and added, "We will revitalize RE100 participation through policy measures such as renewable energy distribution projects, incentives, and system improvements."

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