Korean energy and environmental solutions provider SK Ecoplant formed a power purchase agreement with its sister firm SK hynix to facilitate the provision of renewable energy, thereby aiming to become the leading RE100 solutions provider, the firm announced Wednesday.

The signing ceremony was attended by representatives from both companies, including Bae Seong-jun, vice president and head of SK Ecoplant's energy business center and Lee Byung-rae, vice president of SK hynix.

"Utilizing our entire renewable energy value chain, from business development to manufacturing, engineering, procurement, construction and RE100 implementation support, we aim to assist both domestic and global companies in achieving their RE100 goals," Bae said.

The agreement is expected to propel SK hynix closer to securing a stable supply of renewable energy and advance the firm’s objectives of achieving net-zero emissions and meeting the RE100 initiative goals.

Specifically, SK Ecoplant is set to supply electricity generated by a 100-megawatt renewable energy facility to SK hynix.

The solar power plant operated by Korean solar energy firm Topsun, in which SK Ecoplant made strategic investments in 2022, is also set to play a significant role in fulfilling the agreement.

Topsun boasts a domestic solar development capacity exceeding 400 megawatts and has experience constructing a 150-megawatt solar power plant in Sinan County, the largest of its kind in Korea. Leveraging expertise in solar module manufacturing, site assessment and system integration, Topsun's solar power plant is expected to contribute substantially to the electricity supply, according to SK Ecoplant.

SK Ecoplant has actively been involved in the development of solar and offshore wind energy ventures, along with electricity supply, maintenance and management. The company aims to secure up to 5 gigawatts of renewable energy resources, to position itself as a premier platform connecting renewable energy facilities with RE100 initiative stakeholders.