LG Electronics targets 100% renewables transition by 2050

LG North America Corporate Headquarters, Englewood Cliffs NJ, Architect: HOK. Image Source: LG Electronics Inc.

July 19 (Renewables Now) - South Korea’s LG Electronics Inc (KRX:066570) has set an objective of using 100% renewable energy in all its local and overseas business sites by 2050.

The transition will be achieved in stages through the installation of solar panels, the purchase of renewable energy certificates and the signing of power purchase agreements (PPAs).

Subscribe for Renewables Now's Corporate PPA Newsletter here for free!

LG said in a statement it will start this process in North America, where its local subsidiary is planned to switch to renewables to cover the energy used in production, logistics and in offices by the end of 2021. By 2025, all of the group’s overseas production units will rely fully on renewable energy, it said, noting that this would represent half of the total global transition.

The electronics manufacturer pointed out that its factory in Noida, India, has already deployed a 3.2-MW solar power system.

At home in Korea, LG anticipates achieving 60% and 90% renewables in 2030 and 2040, respectively.

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\