- Establishes RE100 implementation strategies based on the analysis of corporate energy consumption patterns.
- Offers solutions to minimize legal risks associated with renewable energy supply contracts.
SEOUL, March 17, 2024 /PRNewswire-PRWeb/ -- In response to the surging interest in ESG (Environmental, Social, Governance) and RE100 among corporations, Encored Technologies (CEO JongWoong Choe, hereafter "Encored") in South Korea has announced the launch of a RE100 implementation strategy consulting service in collaboration with the law firm Yulchon LLC (hereafter "Yulchon").
This service aims to play a pivotal role in realizing corporate ESG management by supporting the establishment of a stable RE100 achievement strategy, including direct power purchase agreements (PPAs) and purchasing Renewable Energy Certificates (RECs).
Considering the long-term nature of renewable energy purchase contracts, often spanning over 15MW of purchased power and 25 years, the transactions can significantly impact a company's financials, potentially reaching around 76.9 million USD in transaction size. Thus, it necessitates a thorough analysis and strategy development suitable for each company's specific RE100 implementation, including a preliminary review of legal risks associated with long-term contracts.
Through this newly launched consulting service, Yulchon plans to provide a comprehensive analysis of RE100-related legal policies and practical guidelines that can be utilized during the actual contract signing process. Encored will support companies by analyzing consumption patterns using its proprietary demand modeling and energy generation big data, assessing the changes in renewable energy proportions and rates based on capacity, and designing optimized portfolios for corporations with multiple sites.
This will enable companies to establish a concrete and immediately actionable RE100 implementation roadmap. Additionally, the consulting service will proceed with advisory support from the Seoul National University Law Center for Energy & Environmental Law and Policy.
Hyoseop Lee, Vice President of Encored Technologies, stated, "This strategic approach will greatly assist in quantifying the cost changes associated with increasing the proportion of renewable energy and preemptively examining management risks associated with long-term contracts over 20 years for energy transition. It will serve as a practical guideline for corporations to make responsible decisions and actions towards a sustainable future."
The launch of this consulting service is expected to serve as a concrete guide for corporations aiming for ESG management to improve environmental indicators and achieve their RE100 implementation goals.
Media Contact
Jeongmin Kim, Encored Technologies, Inc., 82 1075107211, [email protected], https://encoredtech.com/en/
SOURCE Encored Technologies, Inc.
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