Enlighten achieves annual surplus

-Achieving annual surplus in 2024 …RE100 and electricity rate-responsive subscription models drive performance

[Photo Caption: A view of the solar power plant installed on the roof of the Daedong Mobility factory. It was installed through Enlighten’s subscription model and is currently being operated in an integrated manner, from self-consumption to power trading.]

Energy climate tech company Enlighten (CEO Lee Young-ho) announced that it achieved an annual surplus by recording operating profit of KRW 1.23 billion and net profit of KRW 8.3 billion in 2024. The increase in industrial electricity rates and the demand for corporate RE100 implementation coincided, and the ‘solar subscription model’ that allows self-consumption of solar power without the burden of installation costs led to improved performance.

 Enlighten's performance in 2024 was recorded as ▲Sales of 41.9 billion won ▲Operating profit of 1.23 billion won ▲Net profit of 8.3 billion won. Sales increased by 23.3% year-on-year, and operating profit and net profit improved by 7.1 billion won and 9.7 billion won, respectively. Gross profit more than doubled (4.1 billion won -> 8.5 billion won), and gross profit ratio also increased from 12.2% to 20.4%, achieving both quantitative and qualitative growth.

Enlighten’s subscription model is an integrated energy strategy solution that goes beyond power generation facility construction to encompass everything from power generation to self-consumption and trading of excess power generation. This model is structured to enable self-consumption of electricity at a lower cost than the retail price of industrial electricity without initial investment costs, allowing companies to simultaneously reduce electricity bills and transition to carbon neutrality without the burden of facility investment.

In particular, revenue generation through reverse transmission of excess power generation and resale of electricity is one of the core competitiveness of Enlighten’s subscription model, and it is making a real contribution to the revenue structure of corporate customers. It has a distinct difference in that it is designed to expand the execution of corporate energy strategies to the power trading stage, beyond a simple self-consumption model.

This model is also proving its effectiveness in industrial settings. Major companies such as Daedong Mobility and Lotte Chemical have adopted this model, and cases of implementing the entire process from facility construction to self-consumption and power trading are steadily accumulating.

In order to connect energy production, consumption, and transactions, IT infrastructure support is essential. To this end, Enlighten is integrating and managing solar power assets in 27,000 locations (6.2 GW) nationwide, centered around ‘Power Generation King.’ Power Generation King, the largest platform in Korea by single standard, provides integrated functions such as profit forecasting, risk analysis, and asset optimization, and is positioned as a core infrastructure that supports PPA contracts and power brokerage in the B2B power market.

In addition, Enlighten has developed its own RTU (Remote Terminal Unit)-based real-time control system and is providing integrated services including power generation monitoring, fault response, and safety diagnosis. This integrated capability, which combines IT technology and project execution capabilities, is what Enlighten is responsible for from design to operation and power trading. This is the core foundation that has established the company as an ‘energy strategy solutions company.’

“This surplus achievement goes beyond short-term performance improvement and signifies a qualitative transformation of the entire profit structure,” said Enlighten CEO Lee Young-ho. “The key point was that we were able to practically support customers in executing their energy strategies through the subscription model and build a repeatable profit base.” He added, “We will continue to lead the market as a company that provides specific solutions to enable energy strategies to be put into action.”

Enlighten plans to continue its growth based on the subscription model by ▲expanding the PPA-based revenue model and ▲entering the B2B power trading market in earnest by 2025.