– Hyundai Corporation took its first step into New Renewable Energy Generation business –

Hyundai Corporation completed the construction of the Kuromata solar power plant (scale 1.2MV) on the Kuromata site in Shizuoka Prefecture, Japan, last month and started operation in earnest.

The Kuromata Solar Power Plant is a land-based solar power plant with a capacity of 1,166.24 kWp. The electricity produced at this plant will be sold to Japan Central Power for the next 20 years, and Hyundai Corporation comes to establish a foothold for social contribution through new renewable energy like this

In addition, completion of Kuromata Solar PV Power Station is very significant in that our company’s new renewable energy generation business has taken the first step into an overseas market. In case of Japan, FiT system has been revitalized since 2012, and according to its administrative system improvement, the project, which acquired business right on a high power trading unit price in the past, began to be exposed to the market in large quantities.

Manager Yu, Seung-woo, who took charge of practical business of this project, said, “Due to the steep slopes at a level of 10~35 degrees, and big trees on the site for Kuromata solar PV power station, this construction began with hard work from the start, and even worse, we had many hardships in construction progress with the coming of high temperatures and the rainy season. As the site consisted for steep slopes, our construction work was attended by dangers, but cooperative firms were able to complete work with no accidents and no disasters on the basis of lots of know-how. we are going to aggressively seek for the plan for solar PV generation project extension and business area expansion in Japan on the basis of this trust relationship.”

Meanwhile, Hyundai Corporation established its subsidiary HYUNDAI RENEWABLE LAB in October 2017 and is expanding its renewable energy power generation business in Korea by developing solar energy investments and operating solar power plants in Nonsan, South Chungcheong Province, and Wanju, North Jeolla Province. In addition, Hyundai Corporation established HYUNDAI RENEWABLE LAB JAPAN Co.,Ltd. in Feb. this year with the aim to operate a large number of power stations in Japanese region with the beginning of Kuromata power station, and we are promoting follow-up projects