SY Signs Business Agreement with MiraeN Seohae Energy for Rooftop Solar Power Facilities

[Asia Economy Reporter Yoo Hyun-seok] Comprehensive building materials company SY announced on the 10th that it signed a business agreement with MiraeN Seohae Energy on the 9th to establish rooftop solar power generation facilities.

SY plans to discover new solar power generation projects and EPC projects based on the common denominator of the business agreement and renewable energy with MiraeN Seohae Energy. The solar EPC business is a type of business that provides design, parts and materials procurement, and construction in a one-stop service. Seohae Energy is an eco-friendly energy specialist company that supplies city gas with infrastructure in the Chungnam region.

SY is recognized for its specialization in the rooftop solar business through its proprietary know-how product, ‘FL Roof (Fireproof no Leakage).’ FL Roof is a product that has both fireproof and waterproof functions. Using this product, solar panels can be installed through a non-penetrating method that does not require drilling holes.

It is also characterized by the omission of the substructure metal overlay work required for rooftop solar module installation. The biggest advantage is that the total construction period and installation cost are reduced by more than 30% compared to the existing methods. In addition, SY is evaluated as an optimized company for the rooftop solar business with specialized products such as the ‘Ceramic Hyperbill Roofing Material,’ which is optimized for bifacial modules that generate power from reflected light on the floor (roof) surface.

In May, SY expanded the utilization of its rooftop solar business model by signing a rooftop lease solar power generation contract for the SY Inju 3 Plant with SK E&S Cowon Energy Service.

As a result, SY became the only domestic company equipped with all rooftop solar business models, including self-consumption and power sales types, within a single industrial complex. The SY Inju production complex has a total roof area of 10,000 pyeong and about 9,000 solar modules, capable of producing 4.5 GW of power annually.

An SY official said, “Through the business agreement with an energy specialist company, we have further solidified our position as a renewable energy construction company from a manufacturer of insulation and construction building materials,” adding, “We will actively participate in the renewable energy expansion strategy and focus on discovering new markets and generating profits through greenhouse gas reduction.”

A MiraeN Seohae Energy official said, “This agreement is significant in that we have expanded our business area to renewable energy in addition to city gas,” and added, “We will do our best to create synergy with partners who have technological competitiveness to pioneer new markets and become the top energy solution company in the industry.”