MYTILINEOS Energy & Metals announced the signing of an Memorandum of Understanding (MoU) with South Korean SK E&S (SK E&S), an international company that can organically connect renewable energy, clean hydrogen, energy solutions, and the LNG business, in order to explore means of cooperation in the energy sector.
More specifically, under the MoU, both companies agreed 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, MYTILINEOS 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.
Additionally, it is engaged in the development of several large-scale PV projects in South Korea, such as a 16MW project in Gonam-Myeon, Taean County, a 100MW project in Hongseong-gun,Chungcheongnam-do, and a 200MW project in Jangheung-gun,Jeollanam-do. Moreover, the Company is actively developing onshore and offshore wind projects across various regions, with a combined capacity exceeding 350MW.
MYTILINEOS is firmly committed to sustainability and energy security by expanding its presence in the Asian Pacific energy and renewable energy sources (RES) market, following successful operations in Europe, Latin America, and Australia.
