Hyundai Motor, Matrix Renewables sign solar energy deal for EV plant in US

By Kim Joo-heon Posted : April 22, 2024, 18:41 Updated : April 22, 2024, 18:45
An image of Hyundai Motor Group Metaplant America in Bryan County Georgia   Courtesy of Hyundai Motor Group
An image of Hyundai Motor Group Metaplant America in Bryan County, Georgia   Courtesy of Hyundai Motor Group

SEOUL, April 22 (AJU PRESS) - Hyundai Motor Group will use solar energy to power its electric vehicle plant currently under construction in Georgia, the Korean conglomerate said Monday.

Hyundai has recently signed a 147-megawatt power purchase agreement (PPA) with Matrix Renewables, under which the carmaker will receive electricity generated from the Spanish firm’s 210-megawatt solar power project in Texas, slated to begin operations in October 2025. 

In the largest renewable deal a Korean company has ever signed in the United States, Hyundai plans to procure 378 gigawatt hours of solar energy annually, enough to power about 100,000 households each year. 

The solar electricity from Matrix Renewables will be used for Hyundai Motor Group Metaplant America (HMGMA), scheduled to start commercial operations in October 2025, and three affiliates’ local plants -- Hyundai Mobis North America Electrified Powertrain, Hyundai Steel Georgia, and Hyundai Transys Georgia Powertrain. 

This deal is expected to enable the automotive group to reduce 140,000 tons of carbon emissions, equivalent to annual emissions from around 84,000 mid-sized sedans.

"This agreement is significant as it represents the group's substantial move towards securing renewable energy sources," Hyundai said in a press release.
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