Hanwha Solutions Accelerates Carbon Neutrality... Moves to Secure Solar Power

Hanmaeum Energy Signs Long-term REC Purchase Agreement
Secures 102 GWh of Renewable Energy over 15 Years
Carbon Reduction Equivalent to 1,000 Passenger Cars Annually
"K-RE100 Implementation... Achieving 2050 Net Zero Goal"

On the 2nd, at the Hanwha Building headquarters in Jung-gu, Seoul, Kim Unhoe, Head of the Climate Change Response Office at Hanwha Solutions (left), and Lee Daeyoung, CEO of Hanmaeum Energy, are posing for a commemorative photo at the Hanwha Solutions REC long-term purchase contract signing ceremony. Photo by Hanwha Solutions

[Asia Economy Reporter Choi Seoyoon] Hanwha Solutions has begun securing Renewable Energy Certificates (REC) to implement K-RE100 (Korean Renewable Energy 100% program). The purpose is to actively utilize renewable energy power generation such as solar energy to achieve the 2050 net-zero (carbon net zero emissions) goal.

On the 2nd, Hanwha Solutions announced that it signed a long-term REC purchase agreement with Hanmaeum Energy. At the signing ceremony held at the Hanwha Building headquarters in Jung-gu, Seoul, Kim Unhoe, Head of Hanwha Solutions' Climate Change Response Office, and Lee Daeyoung, CEO of Hanmaeum Energy, attended and discussed additional cooperation plans to implement K-RE100. Hanmaeum Energy is a renewable energy supplier that directly builds and operates solar power facilities by utilizing idle highway sites and owns about 180 solar power plants.

Hanwha Solutions plans to procure approximately 6.8 GWh, equivalent to 6,800 RECs annually, from Hanmaeum Energy and reflect this in the K-RE100 performance of its Ulsan Plant 3. RECs are certificates issued when renewable energy is generated, and purchasing them allows certification of renewable energy usage.

Hanwha Solutions' Ulsan Plant 3 already achieved 100% renewable energy usage in the first half of this year based on participation in the Green Premium donation system for the spread of renewable energy, and through this long-term REC purchase agreement, it will strengthen its competitive greenhouse gas emission reduction capabilities.

Hanwha Solutions is sequentially promoting the transition to renewable energy at each plant according to the 2050 carbon neutrality implementation goal declared in its 2021 Sustainability Management Report. With this REC purchase agreement, Hanwha Solutions will secure a total of 102 GWh of renewable energy power over the next 15 years, which will reduce about 3,100 tons of carbon emissions annually, equivalent to the emissions of 1,000 passenger cars.

Kim Unhoe, Head of the Climate Change Response Office, said, “To expand Hanwha Solutions' ESG management and achieve carbon neutrality goals, we will accelerate K-RE100 implementation and carbon emission reduction through various strategies including REC purchases, establishment of self-generation renewable energy facilities, Power Purchase Agreements (PPA), and utilization of the Green Premium system.”

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