Hyundai : started operation after construction of solar power plant #2 in Japan

Hyundai Corp. completed the second solar power plant in Japan and started full-scale operation.

Hyundai Corp. is operating a solar power plant #2 of power generation capacity 578KW in Mimasaka, Japan from last month since completed in July.

Hyundai Corp. has been preparing for this project after establishing 'HYUNDAI RENEWABLE LAB MIMASAKA' in Japan in March. The electricity produced in MIMASAKA power plant is scheduled to be sold to Chugoku Electric in Japan.

Hyundai Corp. declared to enter the overseas renewable energy power generation business in September last year and built the first solar power plant of 1.2MW in Sizoka hyun, Sizoka City, Japan and started to operate it.

This time, the fact that Hyundai Corp. built an additional power plant one year after entering the Japanese solar power plant market and entered operation was evaluated as a move to confirm the possibility of solar power generation business in the Japanese market and to expand overseas renewable energy power generation business in earnest.

Japanese solar power market has been increasing since the fixed price purchase (FIT) system was introduced in 2012 and many projects with small business rights are appearing in the market and thus the market outlook is bright.

Hyundai Corp. has been selling solar modules manufactured by Hyundai Energy Solution, an affiliated company of Hyndai Heavy Industry Group, in overseas market several years, and accordingly, has a specialized knowhow for solar power generation consulting and module supply. Hyundai Corp. has a policy to expand overseas renewable energy business continuously as a new future business.

Hyundai Corp. is accelerating to expand new business by launching the logistics business as an independent corporate besides solar power generation business. To target the overseas logistics market, the logistics division was launched as an independent corporate (Hyundai Navis) in July.