Solar collaboration between POSCO Future M and SK Innovation E&S aims to reduce emissions from their plants
Posco Future M Accelerates Shift Towards Renewable Energy with SK Innovation E&S Partnership
Posco Future M, a leading global manufacturer of anode materials, has partnered with SK Innovation E&S to initiate a solar power project. This partnership marks a significant step in Posco Future M's commitment to a more sustainable future and its accelerated shift towards renewable energy.
Through this collaboration, Posco Future M aims to diversify its renewable energy portfolio. The company plans to secure energy at competitive prices, primarily through power purchase agreements and renewable energy certificates.
In 2021, Posco Future M completed a solar power facility with an annual capacity of 209 megawatt-hours at its Sejong anode materials plant. This year, the company further expanded its solar power installations at its Gwangyang cathode materials plant, developing a 2.6 gigawatt-hour solar project in partnership with Posco International. SK Innovation E&S will install 2.5 megawatts of solar panels on Posco Future M's plants.
The annual renewable energy generated by the solar panels will amount to 2.8 gigawatt-hours. This renewable energy will be used to power Posco Future M's operations, with the aim of reducing carbon dioxide emissions at its industrial sites. The electricity generated is expected to reduce carbon dioxide emissions by approximately 1,300 metric tons per year.
Posco Future M's renewable energy portfolio diversification allows businesses to claim economic benefits for using clean energy. The company's efforts align with its long-term goal of achieving carbon neutrality by 2050. Both companies also intend to explore additional projects to promote a more sustainable future.
The city where the solar projects of Posco Future M and Posco International related to their nickel, cobalt, and manganese cathode materials factory are located is Gwangyang. The solar power project aims to reduce carbon dioxide emissions at Posco Future M's industrial sites, contributing to a greener and more sustainable future for the city and the planet.
