HD Hyundai Site Solutions, First in Construction Machinery Worldwide to Join RE100

"100% Renewable Energy Transition by 2040"

HD Hyundai Site Solutions, the intermediate holding company of HD Hyundai's construction machinery division, announced on the 6th that it has become the first company in the construction machinery industry worldwide to join RE100 (100% Renewable Energy Use). Its subsidiaries, HD Hyundai Construction Equipment and HD Hyundai Infracore, are also pursuing RE100 achievement.

RE100 is a global campaign launched in 2014, led by the multinational nonprofit organization The Climate Group and the Carbon Disclosure Project (CDP). The goal is to switch 100% of a company's electricity consumption to renewable energy sources such as solar and wind power. To join, companies must announce the date by which they will procure 100% of their electricity from renewable sources and have their progress verified by CDP.

HD Hyundai Site Solutions plans to increase the renewable energy transition rate to 100% by 2040 by optimizing energy use at domestic and overseas business sites with its subsidiaries, establishing solar self-generation facilities, and utilizing renewable energy PPAs (Power Purchase Agreements). This advances their previously declared goal of achieving RE100 by 2045 by five years. They have also set detailed targets to achieve 20% by 2026 and 60% by 2030 in stages.

Cho Young-chul, CEO of HD Hyundai Site Solutions, said, "We will realize RE100 by 2040 and achieve carbon neutrality at our business sites by 2050 to open a sustainable future."

HD Hyundai Construction Equipment Jiangsu Corporation Factory 4MW Solar Panels.
Photo by HD Hyundai Site Solutions

HD Hyundai Site Solutions and HD Hyundai Construction Equipment plan to reorganize the manufacturing processes at their main production base, the Ulsan Campus, by 2025 to reduce energy consumption. They will establish energy monitoring and integrated data management facilities and systems.

HD Hyundai Construction Equipment is actively introducing solar energy at its business sites in China and India. Since November last year, the China subsidiary has been procuring 3,800 MWh (megawatt-hours) annually?half of its required production electricity?from solar power. The India subsidiary has been supplying 70% of the local factory's annual electricity consumption since September by installing solar power generation facilities and an energy management system on nearby idle land.

HD Hyundai Infracore also began supplying eco-friendly electricity to domestic business sites through renewable energy PPAs starting in July. They are promoting the establishment of solar self-generation facilities by utilizing building roofs and parking lot areas at business sites.

HD Hyundai Site Solutions and its subsidiaries declared carbon neutrality by 2050 in June last year. In June, they published the first TCFD (Task Force on Climate-related Financial Disclosures) report in the domestic construction machinery industry.

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