Hyundai Glovis signs renewable energy deal with Hyundai E&C

Hyundai Glovis, Korea’s leading logistics and shipping company, has partnered with Hyundai E&C to power its domestic and international operation bases with a substantial amount of renewable energy, aiming for emission-free operations. According to the Hyundai Motor Group subsidiary Thursday, it has signed a long-term solar power supply agreement with the construction giant Hyundai E&C, covering a total volume of 127 gigawatt hours. This amount of energy is enough to power approximately 35,000 four-person households for an entire year. The deal is a virtual power purchase agreement (VPPA), under which a company can indirectly invest in renewable energy-based power. Hyundai Glovis said VPPA is a common type of power supply deal among companies in the United States and Europe which have committed to RE100 — a global initiative bringing together the world's most influential businesses committed to using 100% renewable electricity in their operations. Under the deal, Hyundai Glovis will place orders of renewable energy-based power generation with Hyundai E&C. The construction firm, in tuWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times