POSCO Future M Partners with SK Innovation for Carbon Reduction... "Solar Panels on Factory Rooftops"

Promoting Solar Power Generation at Pohang Anode Material Plant
Installation of Solar Panels with Annual Capacity of 2.8 GWh

POSCO Future M announced on the 18th that it has signed an agreement with SK Innovation E&S to promote a solar power generation project.

Solar power generation facility completed last year on the roof of the anode material factory in Gwangyang, Jeonnam by POSCO Future M. POSCO Future M

SK Innovation E&S will install solar panels with a total capacity of 2.5 megawatts (MW) on the roofs and parking lots of POSCO Future M's factories, generating 2.8 gigawatt-hours (GWh) of renewable energy annually. POSCO Future M will purchase the electricity produced and use it to operate its factories. Through this initiative, the company expects to reduce carbon emissions by approximately 1,300 tons per year.

With this business collaboration, POSCO Future M plans to take a further step toward its renewable energy transition goals while also securing electricity at competitive prices.

The two companies have agreed to explore a variety of business strategies for a sustainable future, beginning with this renewable energy project partnership.

POSCO Future M, aiming to achieve decarbonization by 2050, completed a solar power facility with an annual capacity of 209 MWh at its Sejong anode material factory in 2021. Last year, in partnership with POSCO International, the company also launched a solar power generation project with an annual capacity of 2.6 GWh at its anode material factory in Gwangyang, Jeonnam, thereby expanding the use of renewable energy.

Looking ahead, POSCO Future M plans to consider additional solar power installations at facilities such as the dedicated Gwangyang nickel-cobalt-aluminum (NCA) anode material factory. The company also intends to diversify its renewable energy sourcing methods, including power purchase agreements (PPA) and the purchase of Renewable Energy Certificates (REC).

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