On June 7, the bank announced it has signed a Direct Power Purchase Agreement (PPA) with Hanwha Solutions to achieve carbon neutrality and expedite the shift to renewable energy.
A PPA allows companies to purchase electricity directly from eco-friendly power plants. This approach is considered a key measure for reducing greenhouse gas emissions and achieving the RE100 goal of using 100% renewable energy.
With this new agreement, NH Nonghyup Bank has secured a total of 8 megawatts (MW) of renewable energy, following an initial contract for 4 MW signed in 2025. This is the largest amount of renewable energy secured through a direct PPA by any bank in South Korea.
Under the agreement, NH Nonghyup Bank will receive 4 MW of renewable energy generated by Hanwha Solutions' solar power facilities over the next 20 years. This energy will be fully utilized to operate NH's Uiwang Integrated IT Center.
Im Se-bin, Senior Vice President of NH Nonghyup Bank, stated, "This agreement is a step toward fulfilling our responsibility as a leading bank actively practicing climate crisis response and ESG (Environmental, Social, and Governance) management. We will continue to work on building a reliable ecosystem for procuring green energy and contribute to the national greenhouse gas reduction targets."
* This article has been translated by AI.
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