Hyundai Motor Group has inked a significant 174-megawatt power purchase agreement (PPA) with a solar energy project led by Spain’s Matrix Renewables. The agreement is aimed at powering Hyundai’s forthcoming electric vehicle (EV) plant in the United States with renewable energy.
The 15-year PPA with the Matrix Renewables-led Stillhouse Solar Project, spanning from 2025 to 2040, will provide energy for Hyundai Motor Group Metaplant America. This facility, currently under construction in Georgia, is set to be the South Korean auto giant’s first dedicated EV mass production plant in North America.
The renewable energy will also support the electrification-related operations of Hyundai Mobis’ North American business and Hyundai Steel’s production plant, both located in Georgia.
Hyundai stated that this deal represents the largest PPA signed by a South Korean company for the use of renewable energy at its US facilities. While the financial terms were not disclosed, Hyundai estimates that the agreement will lead to an annual reduction of approximately 140,000 tonnes of carbon emissions. This reduction is equivalent to the emissions from around 84,000 midsize sedans over the course of a year.
“This contract marks a significant step for the group in securing renewable energy power,” a Hyundai Motor official stated. The official further emphasized that the group is committed to investing in the transition to renewable energy for its US facilities in the future.
