Signed contract on 18th for solar power generation project utilizing rooftops and parking lots at Pohang cathode material plant
Plans to install solar panels with an annual capacity of 2.8 GWh for renewable energy production… Expected to reduce carbon emissions by approximately 1,300 tons annually
POSCO Future M is moving forward with expanding its use of renewable energy.
On the 18th, POSCO Future M signed a contract with SK Innovation E&S to advance a solar power generation project.
Under this agreement, SK Innovation E&S will install 2.5 MW of solar panels on POSCO Future M’s factory rooftops and parking lots, generating 2.8 GWh of renewable energy annually. In return, POSCO Future M will purchase the electricity for its plant operations. This initiative is anticipated to reduce approximately 1,300 tons of annual carbon emission.
Through this business collaboration, POSCO Future M plans to secure competitively priced power while advancing another step toward its renewable energy transition goals.
The two companies have agreed to explore various business opportunities for a sustainable future, beginning with this renewable energy collaboration.
POSCO Future M has been continuously expanding its use of renewable energy to achieve carbon neutrality by 2050. The company completed a 209 MWh annual capacity solar facility at its Sejong anode material plant in 2021 and, last year, partnered with POSCO International to advance a 2.6 GWh annual capacity solar power project at its Gwangyang cathode material plant.
Moving forward, POSCO Future M plans to additional solar power facilities, including the dedicated Gwangyang NCA cathode material plant, and to diversify its renewable energy procurement methods through power purchase agreements (PPAs) and the purchase of Renewable Energy Certificates (RECs).
▲ Solar power generation facility completed by POSCO Future M on the rooftop of its Gwangyang cathode material plant in 2024.