Energy and climate tech company ENlighten (CEO Youngho Lee) announced on the 9th that it has signed a direct power purchase agreement (PPA) with KT&G for the supply of solar renewable energy.
This contract, which will supply renewable energy from an existing private power generation company to KT&G, holds significant significance in the domestic energy market. Enlighten leveraged the data and IT capabilities of its core asset, the "Power Generation King" platform, to select power plants optimized for KT&G's energy needs and successfully concluded the contract by providing customized energy services that maximize reliability and efficiency.
Specifically, the Power Generation King platform leverages extensive power plant operation data and power generation forecasting technology to objectively evaluate and analyze power plants' power supply capabilities, thereby ensuring transaction reliability. Furthermore, the company actively leverages its resource management and settlement expertise, accumulated through experience operating small-scale power markets, to operate PPAs, supporting KT&G's stable and economical use of renewable energy.
Under this contract, Enlighten will supply approximately 5MW of renewable energy to KT&G for 20 years, starting February 1. This will help KT&G achieve its 2030 greenhouse gas reduction and 2045 net-zero goals, approved by the SBTi, while simultaneously achieving carbon neutrality and establishing an economical and stable power consumption model.
Amidst the recent surge in demand for renewable energy across industries, Enlighten is playing a key role in the renewable energy supply chain, securing over 27% of registered power plants in Korea through its Power Generation King platform. In particular, its data-driven approach, which precisely analyzes power plant operating data to develop customized renewable energy supply plans for businesses, is a key element that differentiates Enlighten from its competitors.
Meanwhile, prior to this contract with KT&G, Enlighten successfully concluded a PPA agreement with Hyundai Motor Company. By securing a series of PPA contracts, which select renewable energy from general power generation companies and supply it to companies, Enlighten has established itself as a trusted trading partner in the domestic renewable energy market.
“Enlighten is accelerating renewable energy transactions through optimized energy services based on data analysis and IT technology,” said Enlighten CEO Lee Young-ho. “We will continue to maximize the efficiency of the renewable energy supply chain and dedicate ourselves to technological innovation and service development so that companies can quickly and stably achieve their carbon neutrality goals.”
- See more related articles
You must be logged in to post a comment.