- Hyundai E&C signed a business agreement with the Korea Solar Power Business Association and Good News Energy to expand digital solar PPAs for small producers.
- The alliance lowers PPA entry barriers by automating processes and offering end-to-end support, from project matching to financing.
Hyundai Engineering & Construction (Hyundai E&C) said on Tuesday, July 15, it has signed a business agreement with the Korea Solar Power Business Association (Daetaehyup) and Good News Energy to expand the use of solar power through Power Purchase Agreements (PPAs).
PPAs are long-term contracts between electricity generators and consumers that guarantee power sales over a fixed period. The agreement aims to strengthen Hyundai E&C’s energy transition strategy and accelerate platform-based solar PPAs in South Korea.
Under the deal, Daetaehyup will recruit solar power generation companies from its member base, Good News Energy will handle digital automation of contracts, payments, and system monitoring, while Hyundai E&C will support customer matchmaking, project operation, and financing.
Daetaehyup, established in 2020, represents small- and medium-sized solar operators in Korea. Good News Energy, a subsidiary of energy IT firm Sixtyhertz, maintains a strategic partnership with Hyundai E&C.
Hyundai E&C said the agreement will make it easier for small-scale solar operators to enter the PPA market, which large power generators have traditionally dominated. It marks the first time in Korea that small producers can easily participate in power brokerage transactions through a digital platform.
In a separate move, Hyundai E&C signed a strategic partnership with Top Solar, one of Korea’s leading solar EPC (engineering, procurement, and construction) firms. The two companies will cooperate across the solar value chain, from project development and EPC to operation management and investment.