"100% Renewable Energy Electricity by 2040"
Hanwha Corporation's Global Division is embarking on collaboration for eco-friendly management and K-RE100 implementation.
On the 11th, Hanwha Corporation's Global Division announced that it signed a direct power trading contract with Hanwha Shinhan Terawatt Hour to supply approximately 5,398 MWh of renewable energy electricity annually for 20 years.
Hanwha Shinhan Terawatt Hour Co., Ltd., responsible for supplying renewable energy electricity, is a dedicated renewable energy power trading company jointly invested by Hanwha Convergence Co., Ltd. and Shinhan Financial Group.
The renewable energy electricity produced under this contract is planned to be supplied to the Onsan plant, which produces nitric acid and ammonium nitrate. The 5,398 MWh corresponds to about 20% of the Onsan plant's electricity consumption.
Meanwhile, Hanwha Corporation joined K-RE100 in January and announced its goal to convert 100% of its electricity consumption to renewable energy electricity by 2040. In addition to advancing eco-friendly technologies, the company plans to gradually increase the K-RE100 implementation rate to produce low-carbon nitric acid and ammonium nitrate for a sustainable future.
Yang Gi-won, CEO of Hanwha Corporation's Global Division, said, "This contract is particularly meaningful as it is the first K-RE100 implementation contract signed by Hanwha Corporation," adding, "It aligns with our commitment to eco-friendly management."
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