Shinsung E&G to provide renewable energy to Naver

[Courtesy of Shinsung E&G]

Shinsung E&G Co., a pioneer in the Korean solar energy industry, announced on Wednesday that it will collaborate with Naver Corp. to enhance the supply of renewable energy.

Shinsung E&G said that it has signed a business agreement to supply Naver with renewable energy resources. This partnership aims to support Naver’s participation in the RE100 initiative and its goal of becoming carbon negative. Naver has been actively working to increase its use of renewable energy since 2022 by securing hydro and solar power via direct power purchase agreements (PPAs) and third-party PPAs for its headquarters, 1784, and the Green Factory.

With the latest agreement, Shinsung E&G will supply renewable energy resources, including those from the Pyeongtaek Industrial Complex power plant, to Naver. Naver plans to actively use the renewable energy developed and provided by Shinsung E&G to operate its eco-friendly business sites.

Shinsung E&G produces eco-friendly, high-efficiency solar modules and is a private investor in the RE100 initiative within industrial complexes in Gyeonggi Province alongside its investment in the Pyeongtaek Industrial Complex.