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

The PPA is a 'Pay as Nominated Power Purchase Agreement' ("Hankook Tire has entered into a substantial long-term Pay as Nominated Power Purchase Agreement (PPA)"). The project is projected to result in yearly CO₂ savings of around 10,107 metric tonnes ("is projected to result in yearly CO₂ savings of around 10,107 metric tonnes"). The volume of clean power is sufficient to meet the annual electricity needs of approximately 28,700 residents ("This volume of clean power is sufficient to meet the annual electricity needs of approximately 28,700 residents"). This represents GoldenPeaks Capital's largest PPA undertaking in Hungary to date ("also representing GoldenPeaks Capital's largest PPA undertaking in the country to date"). The initiative is integral to Hankook Tire's global sustainability strategy and carbon reduction goals ("For Hankook Tire, this initiative is integral to its ongoing global sustainability strategy, directly contributing to its worldwide carbon reduction goals and underscoring its dedication to environmentally responsible manufacturing practices."). The PPA aims to enhance energy budget certainty for industrial off-takers and accelerate their transition to green electricity ("enabling industrial off takers to enhance energy budget certainty while accelerating their transition to green electricity.”).