As global awareness of climate change and the shift to sustainable energy grows, more companies are joining the RE100 (Renewable Energy 100%) campaign. SeAH Besteel is keeping pace with this trend by steadily increasing its renewable energy use and has recently accelerated the shift through a solar power PPA with Hanwha Qcells.

Starting in the second half of this year, SeAH Besteel will source renewable solar energy from Hanwha Qcells. By signing a 20-year PPA (Power Purchase Agreement) with Hanwha Qcells, Korea’s leading renewable energy company, SeAH Besteel is ramping up efforts to build an eco-friendly steel production system and cut carbon emissions.

Power Purchase Agreements (PPAs) are emerging as a key method for companies aiming to achieve RE100 and carbon neutrality, as they allow direct energy transactions between producers and electricity consumers. As of 2024, SeAH Besteel has secured 26,967 MWh of renewable energy annually. Through this new agreement, the company raise its total annual renewable energy consumption to 43,392 MWh. This amount is equivalent to the yearly energy usage of roughly 12,000 four-person households (based on 3,684 kWh per household) and is expected to reduce carbon emissions by approximately 19,800 tons each year.

SeAH Besteel operates electric arc furnaces utilizing steel scraps, a method that results in significantly lower carbon intensity compared to the traditional blast furnaces using iron ore. With growing emphasis on carbon neutrality and increased demand for low-carbon and eco-friendly steel products, the company intends to proactively expand its use of green energy and strengthen its ESG practices.

Hanwha Qcells, a prominent leader in Korea's renewable energy industry, is actively advancing the domestic market by offering various green energy supply models, including PPAs. This 20-year agreement marks the beginning of a strategic long-term partnership between SeAH Besteel and Hanwha Qcells in the pursuit of RE100.

Hong Sangbum, Executive Vice President of SeAH Besteel, noted, “Amid tightening global environmental regulations, expanding the use of renewable energy through PPAs will enhance corporate value and open doors to new business opportunities. We will continue to strengthen our ESG initiatives through a range of green strategies.”

Yoo Jaeyeol, Head of Korea Business at Hanwha Qcells, added, “This agreement empowers us to actively support Korean companies in their RE100 and carbon neutrality efforts. We will keep working with industrial partners to expand zero-carbon energy and drive the national energy transition forward.”

This long-term PPA will serve as a foundation for SeAH Besteel to further strengthen its sustainable manufacturing base and environmentally focused management system. The company is expected to continue shaping a responsible growth model through company-wide ESG initiatives.