Global motion technology company Schaeffler Korea announced on the 21st that it signed a ‘solar renewable energy direct power transaction (PPA) contract’ with SK Innovation E&S at its office in Yeouido, Seoul on the 20th.
PPA (Power Purchase Agreement) is a system in which power users purchase and use renewable energy directly from renewable energy power generation companies. It enables stable energy procurement in the long term and is evaluated as an effective method for reducing greenhouse gases and achieving carbon neutrality goals.
The signing ceremony was attended by key officials including Lee Byung-chan, CEO of Schaeffler Korea, Sanjeev Kumar Arora, Director of Indirect Purchasing for Asia Pacific, Daniel Wollschläger, Director of Purchasing for Schaeffler Korea, and Lee Jin-mo, Head of Renewable Energy Business Planning at SK Innovation E&S.
Through this PPA contract, Schaeffler Korea will receive a total of 2.9 MWp (megawatt peak) of onshore solar renewable energy for 20 years starting in 2027 at its Changwon, Jeonju, and Ansan plants. This is expected to reduce greenhouse gases by approximately 1,752 tons per year.
“We are pleased to be able to practice sustainable management that contributes to reducing greenhouse gases and achieving carbon neutrality through this PPA contract,” said Lee Byung-chan, CEO of Schaeffler Korea. “We will use this as a starting point to accelerate the transition to renewable energy at our domestic business sites.”
Jinmo Lee, head of the Renewable Energy Business Planning Division at SK Innovation E&S, said, “Through the PPA contract, we will ensure a stable supply of renewable energy power and support Schaeffler Korea in reducing its power purchase costs,” and “We will expand the supply so that companies including Schaeffler Korea can use renewable energy smoothly.”
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