Korea Western Power (CEO Lee Jeong-bok) announced on the thirty first that it signed a solar energy generation direct power purchase agreement (PPA) business agreement with Western Power and Howon Construction on the Jeonbuk headquarters of the Korea Industrial Complex Corporation.
This agreement was promoted as a part of the ‘Jeonbuk Gunsan Energy Self-Sufficiency Infrastructure Construction and Operation Project’, a public offering project of the Ministry of Trade, Industry and Energy. Amongst 14 an identical projects being carried out in industrial complexes across the country, that is the primary case to be conducted through the PPA method.
PPA is a system that enables power generation firms to sell electricity on to demand firms through the intermediary of renewable energy supply firms, and was introduced in September 2022. This can be a major technique of implementing RE100 and is predicted to be highly effective in achieving carbon neutrality.
Following the agreement ceremony, the agreement participants and Gunsan City held a groundbreaking ceremony for a renewable energy power plant at Gunsan Construction Steel in Jeollabuk-do.
Meanwhile, Korea Western Power can be pursuing an energy efficiency project that involves constructing a renewable energy power plant and replacing existing equipment with high-efficiency equipment. We plan to contribute to achieving the eco-friendly management goals of firms positioned within the Gunsan National Industrial Complex by saving power costs and reducing greenhouse gas emissions.
An official from Western Power Company said, “Western Power Company plans to proceed its role because the backbone of the energy industry by expanding the successful model of this project nationwide,” and added, “We’ll proceed to take the lead in implementing the nation’s energy efficiency policy.”
Reporter Jaeseung Lee energy@aitimes.com
