LG Uplus Wins Renewable Energy Contract from GS E&C

MT Newswires Live01-30

LG Uplus (KRX:032640) secured a renewable energy contract from GS Engineering & Construction (KRX:006360) to make six of its buildings carbon neutral, the South Korean mobile network operator said in a Friday release.

Under the renewable energy power purchase agreement, LG Uplus will receive about 17 gigawatt-hour of renewable energy a year from a solar power plant in Taean, South Chungcheong province, for 20 years. This renewable energy will be used to replace its electricity use in six buildings from September.

The financial aspects of the deal were not disclosed.

The two firms will also work together for the supply and procurement of about 10 megawatts of renewable energy on an annual basis from 2027 to 2030.

Shares of GS Engineering & Construction fell more than 3% in recent trade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment