Nexen Tire is increasing renewable energy use at its Korean factories as global automakers push suppliers to cut emissions. The company signed a direct power purchase agreement with SK Innovation E&S, and the Yangsan plant will start receiving about 4 megawatts of renewable power in November. Nexen Tire also plans to expand solar generation at its Changnyeong plant, with more than 10 megawatts of solar capacity expected by 2028. The company said the shift is a strategic investment to strengthen sustainable competitiveness in global markets.
The Nexen UniverCity in the Magok Industrial Complex in Gangseo, Seoul. Courtesy of Nexen Tire
Nexen Tire is moving to increase renewable energy use at its Korean factories, signing a direct power purchase agreement and expanding solar generation as global automakers press suppliers to cut emissions.
The tire maker said Monday that it signed a renewable energy direct power purchase agreement with SK Innovation E&S, allowing it to buy electricity directly from a renewable energy supplier.
Beginning in November, the Yangsan plant in South Gyeongsang Province will receive about 4 megawatts of renewable power from a mix of onshore wind and solar energy.
