SK Hynix Signs Solar Power Trading Contract Worth 194.5 Billion KRW

Renewable Energy Supply Until 2055

SK Hynix announced on the 19th that it has signed a direct Power Purchase Agreement (PPA) to supply 40MW of solar renewable energy until 2055 with a domestic large corporation affiliate committed to RE100 (100% renewable energy). The transaction amount reaches 194.5 billion KRW.

A direct PPA is a system that allows electricity users to purchase electricity directly from renewable energy power producers. Due to the increase in industrial electricity rates, preference for direct PPAs that supply electricity at fixed prices over a long period is growing.

SK Hynix has a diverse portfolio including solar power, wind power, ESS (Energy Storage System), and fuel cells. It is continuously expanding its business scope as a comprehensive eco-friendly energy platform company, including power brokerage, offshore wind power, and the US ESS business.

Kim Hae-jung, CEO of SK Hynix, said, "We have steadily secured renewable energy generation resources to proactively respond to the opening of the domestic power brokerage market, and this direct PPA agreement is of great significance as a foothold for the power brokerage business." He added, "We will strive to contribute to carbon neutrality and enhance national industrial competitiveness through the expansion of renewable energy supply."

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