On March 28, Hwaseung and Shire Oak International signed a power purchase agreement (PPA) to collaborate on renewable energy in Southeast Asia.
|Chris Honour, head of Strategic Sales at Shire Oak International, and Ky Lee, CEO at Hwaseung at the signing ceremony |
Michael Allicino, COO at Hwaseung said, "We promise to take the lead in preserving the global environment by striving to change our mindset. Solar power systems play a vital part in this."
Hwaseung is a South Korean footwear, headwear, apparel, and textile manufacturer with operations in Vietnam, Indonesia, and China. As a key supplier to multiple global brands, Hwaseung appreciates the value of sustainability.
Hwaseung has partnered with Shire Oak to install and operate the first four solar power plants, generating 18GWh per year.
Founded in 2002, Shire Oak is a British renewable energy investor and developer. Its primary mission is to be a global pathfinder for devising, implementing, and scaling renewable energy solutions to support transformational changes in the adoption of renewable energy.
As a result of this initiative, Hwaseung will reduce its total emissions by 20 per cent at its facilities. The four PPAs are the beginning of an extensive plan to install solar rooftop units across all existing and new facilities operated by Hwaseung around the globe.
Mark Shorrock, Shire Oak's CEO added, "Rooftop solar is a quick and effective solution for global manufacturers operating in coal-intense countries. The carbon intensity here in Vietnam is four times of our home country, the UK. By switching to solar power, Hwaseung is having an incredibly positive impact."
Solar rooftop is only one of Hwaseung's many decarbonisation initiatives around the world. In addition, the company is implementing a comprehensive energy efficiency programme across its more than 25 facilities, participating in off-site PPA programmes, transitioning from coal and gas to low-carbon alternatives, and building new facilities in accordance with green building standards.