BEP has signed a REC product sales settlement with LG Innotek for 84.7 MW of renewable vitality in South Korea.
The settlement sees LG Innotek, a Seoul-based electronics producer, enter proper right into a 20-year settlement with Brite. It plans to accumulate 100 GWh of renewable vitality yearly, equal to the flexibility consumption of roughly 23,809 Korean households.
LG Innotek may even save and supply RECs, a kind of accreditation facilitated by fixed prices or spot shopping for and promoting by the use of the Korea Energy Corp., to acknowledge eco-friendly electrical vitality utilization or greenhouse gasoline emission low cost achievements.
BEP has billed the settlement as the largest single REC contract in South Korea’s renewable vitality market in terms of know-how functionality, excluding transactions between affiliated conglomerates. CEO Brian Heeseong Kim said BEP “will actively cooperate, utilizing photo voltaic vitality property to assist LG Innotek in reaching its renewable vitality transition aims.”
BEP launched its first photo voltaic vitality purchase settlement in South Korea in April 2023.
