SK E&S Supplies Renewable Power to Auto Parts Companies Iljin Global and Bearing Art

60GWh Renewable Energy Power Supply
"Supporting Domestic Companies' Carbon Reduction Efforts
and Becoming a Strong Ally for Overseas Exports"

SK E&S, the largest private renewable energy operator, announced on the 8th that it has signed a 'Renewable Energy Power Purchase Agreement (PPA)' with Iljin Global and Bearing Art, automotive parts subsidiaries of Iljin Group, at Iljin Global Jecheon Plant 1 in Jecheon City, Chungbuk.

Under this agreement, Iljin Global and Bearing Art are expected to receive 60 GWh of renewable energy annually starting as early as next year to produce and export their products. This is anticipated to reduce greenhouse gas emissions by 27,600 tons annually, equivalent to planting 2.3 million pine trees.

A PPA is a contract where an electricity supplier and a company requiring electricity purchase directly trade power. Renewable energy PPAs allow companies to directly purchase and use electricity generated from renewable sources, thereby effectively contributing to the expansion of renewable energy and reduction of greenhouse gases. It is regarded as the most efficient means to achieve 'RE100.'

(From the left) On the 7th, at Iljin Global Jecheon Plant 1 in Jecheon-si, Chungbuk, SK E&S Vice President Seogeon-gi Seo and Iljin Global·Bearing Art CEO Youngsoo Song are taking a commemorative photo after signing the 'Renewable Energy Direct Power Purchase Agreement (PPA)'. Photo by SK E&S

Following the first-ever PPA in Korea signed with Amorepacific in March last year, SK E&S also signed a PPA with SK Specialty, a subsidiary of SK Materials, in August of the same year. This year, SK E&S continues to support corporate renewable energy procurement through ongoing PPA agreements with global chemical company BASF and LG Innotek.

Seogun Ki, Head of the Renewable Division at SK E&S, stated, "In line with global efforts toward carbon neutrality, we plan to continuously expand collaboration with companies pursuing 'RE100.' We will not only support this contract but also continue to assist domestic companies in reducing carbon emissions and be a reliable ally for their overseas exports."