COPENHAGEN, Denmark, Aug. 31 (Korea Bizwire) — Copenhagen Infrastructure Partners (CIP) has reached final close on its new fund, CI Energy Transition Fund I (CI ETF I). The fund was oversubscribed and closed at the hard cap of EUR 3 billion. This makes CI ETF I the largest dedicated clean hydrogen fund globally. CI ETF [...]
SEOUL, Aug. 22 (Korea Bizwire) — Internet portal giant Naver Corp. said Monday it has become the first South Korean internet company to join RE100, a global renewable energy initiative to achieve carbon neutrality in business operations. Naver said it was recently accepted as a member of the RE100 initiative of The Climate Group, a [...]
SEOUL, Aug. 3 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday it will run its global production sites only on renewable energy starting in 2025 as part of efforts to achieve the goals for sustainable growth. All battery production facilities in South Korea, North America, Europe and China will operate on 100 percent renewable [...]
SEOUL, June 24 (Korea Bizwire) — Concerns are rising over the risk of the value chain for major sources of renewable energy like solar and wind power being dominated by China, a report showed Thursday. The report from the Federation of Korean Industries (FKI), the lobby for South Korea’s family-controlled conglomerates, gave a global forecast [...]
SEOUL, May 30 (Korea Bizwire) — The amount of electricity generated from renewable energy in South Korea touched an all-time high in 2021 on government efforts to cut greenhouse gas emissions, data showed Monday. Electricity produced from renewable energy sources came to 43,085 gigawatt hours last year, accounting for 7.5 percent of the country’s total [...]
SEOUL, Nov. 24 (Korea Bizwire) — President Moon Jae-in said Wednesday that South Korea will expand its use of renewable energy as the nation vows to go carbon neutral by 2050. Moon made the remarks as he visited a floating solar power-generating facility inside Hapcheon Dam in Hapcheon, about 350 kilometers south of Seoul. “Carbon [...]
SEOUL, Oct. 13 (Korea Bizwire) — Starting from the end of this month, companies will be allowed to directly purchase electricity produced from renewable energy. This will broaden the way for companies to participate in the RE100 campaign that calls for companies to meet their entire electricity demand with renewable energy such as wind power [...]
SEOUL, Oct. 7 (Korea Bizwire) — The mandatory renewable portfolio standards (RPS) ratio for South Korea’s large-sized power suppliers will be revised upward from next year. The Ministry of Trade, Industry and Energy said Wednesday that it had issued an advance legislation notice for the upward revision of the RPS ratio for large-sized power suppliers. [...]
JEJU, Oct. 1 (Korea Bizwire) — The municipality of the southern resort island of Jeju will introduce a compensation system to promote the use of overproduced and wasted renewable energy for electric vehicle (EV) charging. The the Jeju provincial government on Thursday signed a business agreement with the state-run energy firm Korea Electric Power Corp. [...]
SEOUL, Sept. 7 (Korea Bizwire) — President Moon Jae-in said Tuesday that South Korea will scale up its solar and wind energy production facilities by more than twofold within four years as part of the government’s new carbon neutrality policy. “By 2025, we will expand the scale of solar and wind-related facilities by more than [...]