Hankook Tire and GoldenPeaks Capital forge major long-term solar PPA to decarbonise Hungarian operations

Hankook Tire & Technology Co., Ltd. has announced a significant long-term Pay as Nominated Power Purchase Agreement (PPA) with GoldenPeaks Capital. This deal involves the procurement of 430 GWh of electricity over a decade from a 30 MWp photovoltaic installation in Hungary, with the primary objective of decarbonizing Hankook Tire's Hungarian operations. World Kinect Energy served as an advisor in this transaction, which underscores a strategic move by a global industrial player to secure stable, renewable energy supply directly from a dedicated renewable energy investor. This PPA is notable for its substantial volume and long-term commitment, providing Hankook Tire with a predictable green energy source for its manufacturing processes. The 'Pay as Nominated' structure offers a degree of flexibility in energy procurement, aligning with operational needs. The deal highlights the increasing trend of corporate entities, particularly those with energy-intensive operations, leveraging direct PPAs to meet sustainability targets and manage energy costs. It also showcases GoldenPeaks Capital's role in developing and operating utility-scale solar assets to serve corporate demand in the European market.