Seoul, South Korea - Hyundai Motor Group has taken a significant step toward sustainability by signing a 15-year power purchase agreement (PPA) with Matrix Renewables, a Madrid-based energy development company.
The agreement will secure solar power for Hyundai's manufacturing facilities in the United States, including Hyundai Motor Group Metaplant America (HMGMA) in Georgia.
The group will purchase 147 MW of generating capacity from Matrix Renewables' Stillhouse Solar Project in Texas, which is expected to provide approximately 378 GWh of electricity annually.
The move is expected to reduce carbon emissions by 140,000 tons annually and reflects the Group's commitment to using renewable energy at its manufacturing facilities worldwide.
Several Hyundai Motor Group companies, including HMGMA, Hyundai Mobis North America Electrified Powertrain LLC, Hyundai Steel Georgia Inc., and Hyundai Transys Georgia Powertrain Inc., have joined the agreement.
The Group's first dedicated electric vehicle mass-production plant, HMGMA, located in Georgia, will begin producing electric vehicles for its automotive affiliates, including Hyundai Motor Company and Kia Corporation, in the fourth quarter of this year.
