Hyundai Motor Group has signed a power purchase agreement for 147 megawatts (MW) of solar power to run an electric vehicle factory under construction in the U.S. state of Georgia with renewable energy.
Hyundai Motor Group announced on April 22 that it recently signed a 15-year long-term power purchase agreement (PPA) from 2025 to 2040 with a new solar power project led by Spanish renewable energy developer Matrix Renewables.
This is the largest PPA ever signed by a Korean company for renewable energy at its U.S. business sites.
Four Hyundai Motor Group subsidiaries jointly participated in the agreement including Hyundai Motor Group Metaplant America (HMGMA), which is a new electric vehicle plant in Georgia, Hyundai Mobis North America’s MNAe, Hyundai Steel Georgia (HSGA), and Hyundai Transys Georgia P/T (HTGP).
The…
