GS Engineering & Construction said on the 30th it signed a business agreement with LG Uplus to expand the supply of power purchase agreements (PPA) that allow electricity produced through solar power generation to be bought and sold directly.
A renewable energy PPA is a contract in which a power generator sells electricity produced through renewable energy directly to consumers, and it helps achieve RE100 by cutting carbon through the use of eco-friendly energy.
Following this agreement, GS Engineering & Construction will supply electricity for 20 years to LG Uplus from the 13MW "Changgi Solar Power Project" in Taean, South Chungcheong, in which the company participates as the project operator, and LG Uplus plans to use the eco-friendly energy purchased from GS Engineering & Construction to power LG Uplus data centers and office buildings.
With this agreement, GS Engineering & Construction secured a long-term customer base to sell new and renewable energy, and LG Uplus secured a stable power supply source that can replace part of the electricity used at its data centers and office buildings with new and renewable energy.
A GS Engineering & Construction official said, "With the era of global carbon neutrality approaching, we are expanding into various new and renewable energy business areas, including solar," and noted, "We will continue to seek related business opportunities by focusing on securing development rights for new and renewable energy projects at home and abroad and discovering customers."