GS Wind Power Signs Onshore Wind PPA Supply Agreement with Naver

Panorama of GS Wind Power Plant. GS Wind Power

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GS Wind Power (CEO Kim Sooyeon) announced on April 21 that it has signed a renewable energy direct power purchase agreement (PPA) to supply wind energy generated from its wind farm currently under construction in Yeongyang County, North Gyeongsang Province, to Naver over the long term.

The direct PPA allows power users to transact directly with renewable energy producers without going through Korea Electric Power Corporation, making it an effective means of implementing RE100 initiatives.

Through its wind power plant, which is scheduled to begin commercial operation in 2028, GS Wind Power will directly supply approximately 180 gigawatt-hours (GWh) of electricity annually to Naver's data center for the next 25 years.

GS Wind Power explained, "This volume of electricity supply is the largest generation capacity for an onshore wind PPA," adding, "This project has secured overall business stability and credibility based on financial advisory services from Korea Development Bank."

Starting with this contract, the two companies plan to establish a cooperative framework to expand the adoption of renewable energy and achieve carbon neutrality in Korea. They intend to continue their strategic partnership across various fields, including technology cooperation utilizing AI and big data to enhance the development and use efficiency of renewable energy.

GS Wind Power is operating a wind power complex with a total capacity of 126 megawatts (MW) in the Yeongyang area of North Gyeongsang Province. The company also supplies renewable energy to Hyundai Motor through a 20-year long-term PPA of 130 GWh per year.

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