From this year, companies can also procure renewable energy in Korea.

Ministry of Industry introduces Korean RE100 system… Recognized as GHG reduction performance

Starting this year, companies in Korea will be able to procure renewable energy. The Ministry of Trade, Industry and Energy announced on the 5th that it will introduce the’Korean RE100 (K-RE100) system’, which allows electricity consumers to selectively purchase and use renewable energy from this year.

RE100 is a global campaign to procure 100% of the electricity used by companies with electricity generated through renewable energy such as wind and solar energy by 2050.

The Korean RE100, implemented this time, has been modified to suit the domestic situation.

Global RE100 recommended participation for companies with annual electricity usage of 100 GWh or more, but the domestic system allows both industrial and general electricity consumers to participate after registering with the Korea Energy Agency, regardless of electricity usage.

Renewable energy can be procured through a green premium system, a third party PPA (electricity purchase contract), renewable energy supply certificate (REC) purchase, and self-generation.

The green premium system is a method of buying renewable energy by paying a premium to KEPCO through bidding.

The third party PPA refers to the signing of a power transaction contract between a renewable energy generator and a company through KEPCO.

The government has decided to recognize that if companies use renewable energy, they will reduce greenhouse gas emissions. To this end, the Ministry of Environment is revising the relevant guidelines for specific energy sources, reduction measures and methods. In addition, if at least 20% of renewable energy is used, labeling will be given. Reporter Kim Ji-eun

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