LG Uplus Wins Renewable Energy Contract from GS E&C

MT Newswires Live
01/30

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.

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