Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = Hanwha Solutions QCELLS Division(hereinafter referred to as Hanwha QCELLS) will supply modules for self-consumption solar power plants to be installed at Hyundai Motor Company’s domestic business sites.

In response to the growing demand for carbon-free energy from enterprises, Hanwha QCELLS will identify and promote renewable energy projects utilizing various ‘idle sites’ that are suitable for Korea’s geographical environment.

Under this contract, Hanwha QCELLS will sequentially supply a total of 20MW solar modules to Hyundai Motor Company starting from the first half of 2024. In addition, Hyundai Motor Company secured additional renewable energy power of approximately 27GWh(Gigawatt hours) per year by utilizing idle land within the business, such as factory roofs, storage areas, and parking lots, and achieved the effect of reducing carbon emissions by approximately 12,000tons per year.

In South Korea, where 70% of the country is mountainous and there is not enough land for renewable energy expansion, rooftop solar power is one of the renewable energies with the highest potential for deployment. According to an independent analysis by Korea’s energy think tank, NEXT, the potential for rooftop solar power, including both residential buildings and industrial parks, totals 42.2 GW.

Meanwhile, Hanwha QCELLS, which was the first domestic renewable energy company to declare participation in K-RE100 in February 2021, is directly producing and consuming renewable energy power by installing a total of 3.9MW of idle solar power on the rooftop and parking lot of its Jincheon factory in North Chungcheong Province.

By Soon-ki Lee(s8789@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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