Hankook signs 10-year renewable power agreement

Seoul – Hankook Tire & Technology has signed a long-term deal with energy company GoldenPeaks Capital (GPC) for the supply of renewable power to its tire production facility in Raclamas, Hungary.

The ‘pay as nominated power purchase agreement’ (PPA) is a “significant step in strengthening renewable energy sourcing and decarbonising Hungary’s industrial sector,” said Hankook’s parent group Hankook & Co. 23 Feb.

Under the 10-year agreement, GoldenPeaks Capital will supply 430 GWh of electricity to the factory in total, supported by 30 MWp (megawatt peak) of solar capacity.

This, said Hankook, is enough clean energy to provide electricity to an estimated 28,700 citizens and save around 10,107 tonnes of CO2 annually.