RE100 is a global initiative designed to encourage businesses to achieve 100 percent renewable electricity through renewable energy sources such as solar power plants, wind farms, and micro hydropower plants. More than 390 companies across the globe including Samsung Electronics and LG Energy Solution have signed up for the global project.
The Indian branch of HD Hyundai Construction Equipment (HCE) said that the company partnered with Ravindra Energy to set up a 2.5-megawatt-class solar power plant in a 40,000 square meter-wide idle space near the main plant by September 2023 and provide some 4,700 megawatt-hours of electricity to HCE annually for 10 years. The solar power plant will be able to cover up to 70 percent of the electricity used by the plant.
The construction of the massive solar power plant in India is part of HCE's big plan to gradually reduce the company's dependency on electricity generated in conventional power plants including thermal power plants that mainly use coal or gas to turn generator turbines.
In November 2022, HCE's Chinese branch installed a 4-megawatt-class solar power plant on the rooftop of its factory buildings to supply about 50 percent of the total electricity consumed by the factory plant. HCE said that its Chinese factory reduced some 3,700 tons of greenhouse gases and some 1,300 tons of particulate matter, microscopic particles known as "fine dust," through the renewable energy power plant.
"Because solar power generation is heavily affected by the weather and length of daytime, it is true that there are limitations for our factories in South Korea to adopt the renewable energy source," an HCE official told Aju Business Daily, adding that the company will also push to achieve RE100 at home when a renewable energy generation system is set up in the southern port city of Ulsan in 2024 based on the experience of operations at overseas branches.
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