Kolon Global to Supply Renewable Energy to Iljin Group for 20 Years

The Nation's First Private PPA for Wind Power Generation Signed

Kolon Global will supply renewable energy to domestic export companies through its wind power generation business.

On the 27th, Kolon Global announced that it has signed the country's first private PPA (Power Purchase Agreement) in the wind power plant sector with SK E&S and Iljin Group (including Iljin Global). A PPA is a contract in which users purchase electricity directly from renewable energy power producers. The advantage is stable energy supply without price fluctuations.

Accordingly, Kolon Global plans to supply renewable energy from the ‘Hasami Wind Power Project (17.6MW)’ being promoted in Taebaek, Gangwon Province, to Iljin Group through the supplier SK E&S, with an annual maximum scale of 37GWh for 20 years.

Aerial view of the 'Hasami Wind Power Plant' project site in Taebaek-si, Gangwon. Photo by Kolon Global

Starting with this, Kolon Global plans to pursue private PPA agreements in other ongoing projects such as Yangsan Eden Valley Wind Power and Pohang Wind Power.

A Kolon Global official stated, “We aim to secure 500MW of wind power assets by 2030 and supply renewable energy of about 1000GWh annually to support domestic companies’ exports,” adding, “We will expand PPAs to wind power sites nationwide and actively support renewable energy for domestic export companies.”

Meanwhile, Kolon Global is establishing its position as a renewable energy business operator by directly participating not only in the construction of wind power plants but also in power generation operations. Currently, it operates or is promoting 39 wind power plants nationwide with a total capacity of 1000MW, including Gyeongju Wind Power Complex 1 and 2 (37.5MW), and Taebaek Gadoksan Wind Power Complex 1 (43.2MW) and 2 (21MW). Taebaek Gadoksan Wind Power Complex 1 was also recognized as a representative exemplary case of coexistence with the local community as Korea’s first resident-participation wind power complex. Kolon Global plans to expand wind power projects into stable and sustainable businesses with a target dividend profit of 50 billion KRW by 2030.