Lotte Chemical-DL Energy, Joint Business Development Collaboration for Renewable Energy Adoption

MOU for Cooperation on Renewable Energy Introduction with DL Energy

On the 17th, Lotte Chemical signed a "Joint Development Agreement (MOU) for Renewable Energy Power Generation Business" with DL Energy at its Uiwang plant in Gyeonggi Province to introduce domestic renewable energy. Lee Young-jun, CEO of Lotte Chemical Advanced Materials Business (right), and Lee Jung-wook, CEO of DL Energy (left), are posing for a commemorative photo. Photo by Korea Chamber of Commerce and Industry

Lotte Chemical and DL Energy collaborate to promote carbon neutrality and ESG expansion.

On the 17th, Lotte Chemical signed a 'Joint Development MOU for Renewable Energy Power Generation Projects' with DL Energy at its Uiwang plant in Gyeonggi Province to introduce domestic renewable energy. The signing ceremony was attended by Lee Young-jun, CEO of Lotte Chemical Advanced Materials Business, Lee Jung-wook, CEO of DL Energy, and key stakeholders.

Through this agreement, the two companies plan to cooperate on joint development of new domestic renewable energy projects, establish cooperation plans for the supply and use of renewable energy power, and exchange information to revitalize the renewable energy industry.

In 2022, Lotte Chemical declared a new corporate vision, 'Every Step for Green,' aiming for sustainable growth, and publicly announced its ESG vision, 'Green Promise 2030.' On the 5th of this month, it joined the RE100 (Renewable Energy 100) initiative and plans to convert 100% of its electricity consumption to renewable energy by 2050.

DL Energy, as an IPP developer, has established itself as a global private power generation company by developing and investing in power projects not only in Korea but also in global markets such as the Middle East and South America. It is also actively engaging in ESG management through eco-friendly energy development, including the groundbreaking of the Yeosu hydrogen fuel cell power plant last year. To support Lotte Chemical’s stable RE100 implementation, DL Energy plans to explore joint cooperation not only in renewable energy but also in overall carbon neutrality and discover various opportunities.

Lee Young-jun, CEO of Lotte Chemical Advanced Materials Business, said, “We are pleased to cooperate with global power company DL Energy to expand electricity supply based on renewable energy that does not emit greenhouse gases,” adding, “The two companies will achieve new projects related to RE100 and carbon neutrality goals, starting with the introduction of domestic renewable energy power generation.”

Lee Jung-wook, CEO of DL Energy, said, “We support Lotte Chemical’s RE100 declaration for achieving carbon neutrality and will do our best to be a reliable partner in Lotte Chemical’s journey to achieve RE100,” and added, “We hope this small beginning of the agreement will lead to more business opportunities based on mutual trust between the two companies.”

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