Posco Future M announced Thursday that it has partnered with SK Innovation E&S to initiate a solar power project aimed at reducing carbon emissions at its industrial sites.
Under the agreement, SK Innovation E&S will install 2.5 megawatts of solar panels on the rooftops and parking lots of Posco Future M’s plants, generating 2.8 gigawatt-hours of renewable energy annually.
Posco Future M will purchase the electricity to power its operations, a move expected to reduce carbon emissions by approximately 1,300 metric tons per year.
Through this partnership, Posco Future M plans to secure energy at competitive prices while accelerating its shift toward renewable energy. Building on this collaboration, both companies intend to explore additional projects to promote a more sustainable future.
Posco Future M has steadily expanded its use of renewable energy as part of its commitment to achieving carbon neutrality by 2050.
In 2021, it completed a solar power facility with an annual capacity of 209 megawatt-hours at its Sejong anode materials plant. This was followed last year by a 2.6 gigawatt-hour solar project at its Gwangyang cathode materials plant in South Jeolla Province, developed in partnership with its sibling company, Posco International.
Posco Future M plans to further expand solar power installations at facilities such as its dedicated nickel, cobalt and manganese cathode plant in Gwangyang. The company also aims to diversify its renewable energy portfolio through power purchase agreements and renewable energy certificates, which allow businesses to claim economic benefits for using clean energy.
hyejin2@heraldcorp.com
