Commercial, Solar, Wind - June 7, 2023
LG Electronics to Use 100% RE by 2050
LG Electronics (LG) completed its plans to convert all its business sites to 100% adoption of renewable energy by 2050.
The electronics manufacturer will increase its usage of electricity from renewable sources, such as solar and wind power, to 60% by 2030 and 90% by 2040 to reach 100% by 2050.
LG joined RE100 (Renewable Energy 100), a global initiative advocating for businesses to convert to 100% renewable energy for all their electricity requirements.
Along with expanding the generation and usage of renewable energy via the installation of high-efficiency solar panels at LG offices and manufacturing facilities, the company will also purchase renewable energy certificates (RECs), signing renewable energy power purchase agreements (PPAs) and in South Korea, paying Korea Electric Power Corporation’s (KEPCO) green premium.
In 2022, LG signed a direct PPA with GS EPS, a Korean power generation company, to build a solar power station equivalent to the size of three soccer fields on the roof of the existing integrated production building at LG Smart Park in Changwon, South Korea by 2025. Some solar panels have already been installed and have generated power for select buildings since last December.
The company also installed solar panels on rooftops of several of its offices, including the LG Sciencepark R&D complex in Seoul, South Korea; the North American headquarters campus in New Jersey, USA; LG India’s office building in Greater Noida, India; and the Rayong home appliance factory in Thailand.
“Through ongoing efforts and innovation, LG is well on its way to achieving its goals of converting to 100 percent renewable energy and becoming a carbon neutral business,” said Lee Sam-soo, chief strategy officer at LG Electronics, in a statement. “LG remains fully committed to realizing its ESG vision of creating a Better Life for All.”