Hyundai to accelerate installation of solar panels at its major factories

South Korean pioneer car manufacturer Hyundai Motor Co. has decided not to build a liquefied natural gas (LNG)-powered thermal power plant.

With this, Hyundai has decided to accelerate the installation of solar panels at its major factories, both in and outside South Korea.

The move is aimed to lower dependence on external providers of electricity. It will also promote the introduction of renewable energy power purchase agreements, a local report mentioned.

Earlier, the company had planned to build a thermal plant as part of a carbon neutral strategy. The LNG power station was planned for the Ulsan plant to reduce its dependence on the Korea Electric Power Corp.

“We decided to cancel the LNG plant construction plan, one of the various measures we internally reviewed to meet the global consensus for climate change,” a company official was quoted in a report.

Now, the company stated that while constructing new plants, it will make them 100 percent compatible with renewable energy.

The move comes as part of Hyundai's efforts to meet 100 percent of electricity demand from its factories with renewable energy by 2045.