GC Biopharma to power operations in S Korea with solar energy

South Korean clean energy-focused firm SK E&S has signed an agreement to supply a total of 6.7 MW of solar power to three production sites of local GC Biopharma Corp (KRX:006280).

The power purchase agreement (PPA), touted as the first such deal to be signed by a Korean pharma company, has a 20-year term starting from 2026, according to a statement released today.

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The contracted renewable electricity will power GC Biopharma’s plants in Ochang, Eumseong and Hwasun.

“We are committed to expanding our renewable energy supply to help Korean companies reduce greenhouse gas emissions and implement RE100,” said Kun-Ki Seo, head of Renewable Business at SK E&S.

Last month, SK E&S, which is part of South Korean conglomerate SK Group, inked a 20-year contract to supply 10 MW of renewable energy annually to South Korean electronic components maker LG Innotek Co Ltd.