"South Korea's Largest Private Company"…LG Chem Signs Wind Renewable Energy Supply Contract

From 2026 for 20 Years... Annual 615 GWh
"Differentiated Customer Value through Eco-Friendly Energy Transition"

LG Chem is strengthening its low-carbon competitiveness by securing the largest scale of wind renewable energy among domestic private companies.

On the 31st, LG Chem announced that it will sign a long-term 20-year purchase contract for renewable energy from the Yeongdeok-Yeongyang repowering wind power plant (241 MW) facilities with ST International and Shinhan Asset Management.

The renewable energy secured through this contract amounts to up to 615 GWh annually. This is the largest scale of wind power renewable energy purchased by a domestic private company, enough to supply 146,000 households for one year.

Starting in 2026, the energy will be supplied through a third-party PPA (Power Purchase Agreement), where power producers and electricity consumers enter into renewable energy purchase contracts mediated by Korea Electric Power Corporation. The supply method also includes REC (Renewable Energy Certificate) trading contracts, which involve purchasing renewable energy certificates to certify the use of eco-friendly electricity and reduction of greenhouse gas emissions.

LG Chem will utilize the secured renewable energy at its business sites producing battery materials and eco-friendly materials to enhance low-carbon competitiveness and provide differentiated value to global customers with high demand for eco-friendly energy. The Cheongju anode material plant plans to convert 100% of its electricity usage to renewable energy by next year, contributing to the reduction of the carbon footprint of anode materials.

LG Chem has been proactively responding to the industrial decarbonization mega trend by being the first in the domestic chemical industry to declare 100% renewable energy transition (RE100) by 2050 and setting a carbon reduction target of net zero by 2050.

Jong-gu Lee, Head of Strategy and Sustainability Management Division (CSSO, Vice President) at LG Chem, said, "We will not only build a business portfolio based on sustainability, including battery materials and eco-friendly sustainable materials, but also convert the energy we use to eco-friendly energy to provide differentiated value to our customers."

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