Small Solar Power Producers to Easily Trade Electricity... Hyundai Construction Signs Agreement with Association and Platform Company

Hyundai Construction announced on the 16th that it has signed a "Business Agreement to Expand Solar Power Plant PPA Supply" with the Korea Solar Power Producers Association and Good News Energy. PPA refers to a power purchase agreement, which is a contract between a power producer and a power consumer for a specified period.

Under this agreement, the parties will work to ensure the stable sale of solar-generated electricity and to activate platform-based PPAs. The association consists of members who own small- and medium-sized solar power plants. Good News Energy, a subsidiary of the energy IT company SixtyHertz, previously launched Korea's first RE100-dedicated renewable energy trading and compliance management service platform.

Donghoon Lee, Executive Director of Development Business Division at Hyundai Construction (from left), Youngjoo Kwak, President of Korea Solar Power Producers Association, and Jonggyu Kim, CEO of Good News Energy, are taking a commemorative photo after recently signing an agreement. Photo by Hyundai Construction

The Korea Solar Power Producers Association will recruit participants from among its member companies, and Good News Energy will automate processes such as contracting, settlement, and monitoring through its digital platform. Hyundai Construction will support demand matching, operations, and financial procurement. Unlike existing PPAs, which are centered on large power producers, this agreement is notable for enabling small-scale operators to easily participate in electricity brokerage transactions.

Last month, Hyundai Construction also formed a partnership with Top Solar, one of Korea's leading solar EPC companies. With the largest track record of solar power plant construction in the country, Top Solar is expanding its business into areas such as energy storage systems (ESS) and offshore wind power. The companies plan to cooperate across the entire renewable energy value chain. Hyundai Construction stated, "Beyond simple supply and demand matching, we aim to expand competitive partnerships, diversify the domestic PPA market, and discover new business models."