Hyundai Motor Group has entered into a 174-megawatt power purchase agreement (PPA) with a solar energy project headed by Matrix Renewables of Spain.
Currently under construction in Georgia, Hyundai Motor Group Metaplant America is the South Korean automaker’s first dedicated electric vehicle mass production plant in North America. The 15-year power purchase agreement (PPA) with the Stillhouse Solar Project, led by Matrix Renewables, will run from 2025 to 2040.
According to the Yonhap news agency, the energy would also be utilised for electrification-related activities at Hyundai Steel’s Georgia production facility and Hyundai Mobis’ North American company.
The company claims that this PPA is the largest that a South Korean firm has ever signed for the usage of renewable energy at its sites in the United States. The conditions of payment were not revealed.
According to Hyundai, the agreement should have a yearly carbon reduction impact of around 140,000 tonnes, or about the same as the carbon emissions from 84,000 midsize sedans during one year.
“This contract marks a significant step for the group in securing renewable energy power,” a Hyundai Motor official said, adding that the group will further invest in the transition to renewable energy for its U.S. facilities in the future.