Taekwang Industrial Completes 1MW Self-Consumption Solar Power Facility

Taekwang Industrial is accelerating its ESG (Environmental, Social, and Governance) management focused on participation in RE100 (100% renewable energy use) and low carbon.

Taekwang Industrial, a textile and petrochemical affiliate of Taekwang Group, announced on the 13th that it completed a 1MW-class self-consumption solar power facility using idle land at its Ulsan plant on the 19th of last month. Taekwang Industrial is the first in the textile and chemical industries located in Ulsan to install a 1MW-class self-consumption solar power facility for RE100 implementation.

Self-consumption solar power differs from power generation businesses that sell electricity, as the generated power is consumed internally within the business site. It is used as one of the means for companies to fulfill RE100 commitments. The newly installed power facility utilized the employee parking lot area and is expected to contribute not only to greenhouse gas reduction and achieving carbon neutrality goals but also to serve as a shading structure protecting from sunlight and rain.

The installation capacity is 1MW, with an expected annual power generation of approximately 1180MWh. This capacity can operate about 450 electric vehicles annually (assuming 2.64MWh power consumption per vehicle), substitute 272 TOE (tons of oil equivalent) of fossil fuels annually, and have the same effect as planting 48,423 trees. At the same time, it is expected to reduce 542 tCO2e (tons of CO2 equivalent) of greenhouse gases, with a total CO2 reduction effect of more than 16,260 tCO2eq over the expected 30-year lifespan of the solar power system.

The installation work was carried out by Gridwiz, a clean tech specialist company, handling everything from RE100 consulting to EPC.

Taekwang Industrial plans to use the completion of this solar power facility as a stepping stone to further accelerate ESG management. Recently, Taekwang Group launched a 'Future Committee' to establish an ESG-centered management system, and its main affiliate, Taekwang Industrial, also established an ESG Committee within its board of directors on the 16th of last month.

A Taekwang Industrial official said, "Using eco-friendly renewable energy through solar power generation is expected to have positive effects not only in reducing carbon dioxide but also in coping with electricity price increases," adding, "We will continue to do our best to build a sustainable environmental management system based on ESG management such as RE100 and carbon neutrality."