On the 6th, a ceremony was held for the completion of rooftop solar facility at POSCO FUTURE M’s Gwangyang Cathode Plant
The aim is to secure over 2.6 GWh of renewable energy annually by leveraging the synergy of the Group’s affiliates
POSCO INTERNATIONAL (Vice-chairman Jeong Tak) and POSCO FUTURE M (President Kim Jun-Hyung) are joining forces to cooperate on renewable energy projects to meet RE100* goals in the battery materials business.
*RE100 (100% Renewable Energy): A campaign where companies voluntarily commit to sourcing 100% of their electricity needs from renewable energy.
On the 6th, the two companies held a ‘Ceremony for the Completion of the Rooftop Solar Facility to Realize Carbon Neutrality’ at POSCO FUTURE M’s Gwangyang Cathode Plant. The ceremony was attended by Kim Tae-Hyoung, Head of Green Energy Development Division at POSCO INTERNATIONAL; Kim Jin-Chul, Chief Safety and Environment Officer at POSCO FUTURE M; and Choi Wook, Production Manager of Cathode Material Division at POSCO FUTURE M.
This is the first cooperative project between POSCO INTERNATIONAL and POSCO FUTURE M to expand the production and usage of renewable energy.
POSCO INTERNATIONAL will install 2.2MW of solar panels on the roof of POSCO FUTURE M’s Gwangyang Cathode Plant to generate 2.6GWh of renewable energy annually and secure a renewable energy certificate (*REC). This is a business that leads to a virtuous cycle as POSCO FUTURE M will respond to RE100 by purchasing a renewable energy certificate.
*Renewable Energy Certificate (REC): A certificate that verifies the supply of energy through renewable energy facilities. RECs are purchased by business owners that need to supply renewable energy to meet the Renewable Energy Portfolio Standards (RPS) or RE100.
This project is particularly significant as it demonstrates synergy between POSCO INTERNATIONAL, which became an energy company through a successful merger with POSCO ENERGY last year, and POSCO FUTURE M, an eco-friendly future materials company, in transitioning to renewable energy.
Moving forward, the two companies plan to explore ways to secure renewable energy over the mid- to long-term, including expanding solar power generation facilities at their cathode plant and artificial graphite anode plant in Pohang. To meet RE100 requirements, POSCO FUTURE M completed solar power generation facilities capable of generating 209 MWh of electricity annually at its Sejong Anode Plant in August 2021.
“We hope that this collaborative business for renewable energy will help POSCO FUTURE M better respond to RE100 in the era of carbon neutrality,” said POSCO INTERNATIONAL Vice-chairman Jeong Tak. “We will further advance our business to contribute to POSCO Group’s ESG management.”