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Hyundai Motor Signs 15-Year Power Purchase Agreement for Solar Energy with Matrix Renewables in the US.

Hyundai Motor (KRX:005380) has signed a 15-year power purchase agreement with Spanish renewable energy platform Matrix Renewables, securing 378 GWh of annual supplies for some of its affiliates in the US. The agreement requires Hyundai Motor to procure 147 MW of solar power for its manufacturing locations in Georgia and other US locations. Matrix will deliver the electricity volumes from its 210-MW Stillhouse Solar Project in Texas’ Bell County. The power procurement aligns with Hyundai Motor’s commitment to using renewable energy in its global production facilities. The affiliates benefiting from the PPA include Hyundai Motor Group Metaplant America (HMGMA), Hyundai Mobis North America Electrified Powertrain LLC, Hyundai Steel Georgia Inc and Hyundai Transys Georgia Powertrain Inc.

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