Mytilineos signs MoU with South Korean giant
Mytilineos on Monday announced the signing of a memorandum of understanding (MoU) with South Korean SK E&S Co Ltd – an international company that can connect renewable energy, clean hydrogen, energy solutions and the LNG business – in order to explore means of cooperation in the energy sector.
Under the MoU, both companies agree to cooperate in the following sectors: Business opportunities in the gas value chain including LNG trading and gas-to-power projects; business opportunities in the renewable energy sector; and other business opportunities in the energy sector according to their respective strengths and capabilities with the aim of optimizing synergies.
Mytilineos is one of the few European companies that have successfully entered the Asian market with the construction of a 1.55MW Solar PV project in Yangpyung-gun. The Yangpyung-gun project annually generates approximately 2,000 units of renewable energy certificates (RECs), which are sold to SK Corporation under a 20-year offtake agreement (PPA).
Furthermore, it is actively involved in the construction and commissioning of several PV projects with a combined capacity of 26MW in different provinces, including Jeollabuk-do, Gyeongsangnam-do, and Chungcheongnam-do. These projects hold long-term PPA contracts with one of the subsidiaries of South Korean conglomerate GS Corp.
