Hyundai Motor Group has entered a significant power purchase agreement (PPA) with Spanish renewable energy company Matrix Renewables to power its electric vehicle (EV) plant in Georgia. The 147-megawatt deal represents the largest single PPA signed by a Korean company in the United States. This marks a major milestone for Hyundai Motor as it continues to embrace sustainable practices in its operations.
The agreement involves four Hyundai companies: Hyundai Motor Group Metaplant America, Hyundai Mobis North America, Hyundai Steel Georgia, and Hyundai Transys Georgia Powertrain. Together, they secured a joint purchase agreement for renewable energy, reducing costs compared to individual contracts.
The renewable energy will come from a new 210-megawatt solar power plant named Stillhouse Solar, currently under construction in Texas. Hyundai Motor will obtain about 378 gigawatt-hours of power per year from this plant, sufficient to supply electricity to approximately 100,000 households annually.
This renewable energy initiative is expected to lower carbon emissions by 140,000 tons annually, comparable to the emissions from 84,000 mid-sized sedans. Hyundai Motor's investment in renewable energy for its EV plant in Georgia aligns with its long-term commitment to sustainability.
Hyundai Motor’s EV-dedicated plant in Bryan County, Georgia, is set to begin operations in October, three months ahead of schedule. As Hyundai Motor Group continues to transition its US operations towards renewable energy, the company remains committed to efficiently securing clean power for its automotive production.
Source: koreaherald.com