Samsung Electronics to Purchase 'Industrial Complex RE100 Power' Promoted by Gyeonggi Province for 20 Years

Kim Dong-yeon, Governor of Gyeonggi Province (second from the left in the front row), attended the "Renewable Energy Supply Agreement Ceremony for Achieving RE100 by Gyeonggi Companies" held at Dodamso on the 16th, and is taking a commemorative photo with Lee Young-hee, Head of Global Marketing at Samsung Electronics, Kim Hyung-min, CEO of Enel X Korea, Kim Kwang-il, Vice President of Korea Midland Power, and Yoo Young-il, Chairman of the Urban Environment Committee of the Gyeonggi Provincial Council.

Samsung Electronics will purchase and use electricity produced through Gyeonggi Province's industrial complex RE100 project for the next 20 years. RE100 is a project where companies cover 100% of their electricity consumption with renewable energy.

On the 16th, Gyeonggi Province announced that it signed a 'Renewable Energy Supply Business Agreement for Achieving Corporate RE100' with Samsung Electronics, Enel X Korea, Korea Midland Power, and others at Dodamso in Paldal-gu, Suwon (former governor's residence).

According to the agreement, the consortium of Enel X Korea and Korea Midland Power will identify multiple sites within industrial complexes in the Pyeongtaek area and invest 70 billion KRW in solar power facilities to supply 45MW of electricity. The entire project cost will be financed with 100% equity capital without collateral. Additionally, domestic modules will be used, and materials will be procured through local companies to contribute to revitalizing the regional economy. Samsung Electronics will purchase and use the renewable energy produced here for 20 years. Gyeonggi Province will be responsible for supporting administrative procedures, coordinating disagreements among institutions, and assisting in site discovery.

Earlier, in April, Gyeonggi Province declared the Gyeonggi RE100 vision and selected eight private investment consortia for the industrial complex RE100 project through a public contest in June, expanding renewable energy on industrial complex rooftops so that RE100 companies can purchase it.

The industrial complex RE100 project promoted by Gyeonggi Province creates renewable energy through private investment, allowing site-providing companies to earn additional income such as rent, while effectively responding to carbon regulations. Furthermore, RE100 companies like Samsung Electronics secure renewable energy, creating a win-win model that enhances export competitiveness.

RE100, which includes 421 global companies worldwide including 34 domestic large corporations, is emerging as a near-future trade barrier. There are concerns that failure to meet RE100 targets could block export routes or cause factories to relocate overseas where renewable energy supply is smoother. Expanding renewable energy is a shortcut to responding to the climate crisis and is directly linked to the competitiveness of key industries and job security.

To ensure the smooth promotion of industrial complex RE100, Gyeonggi Province plans to actively inform about the benefits of participation through rapid permit support and on-site briefings for companies in the industrial complexes.

At the agreement ceremony, Gyeonggi Governor Kim Dong-yeon said, "While South Korea is moving backward in renewable energy and climate change response, Gyeonggi Province has repeatedly expressed and is implementing its determination to take the lead in actively addressing climate change and producing and supplying renewable energy. Today is a truly meaningful day as we sign an agreement to supply renewable energy produced using the Pyeongtaek industrial complex to Samsung Electronics as a follow-up measure for industrial complex RE100."

He added, "The Gyeonggi industrial complex RE100 project is a 'one stone, four birds' project. Industrial complex tenants earn rental income by leasing rooftops, investors gain returns from solar investments, Samsung Electronics fulfills RE100 commitments, and Gyeonggi Province helps local companies while reducing greenhouse gases," emphasizing the significance.

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