TotalEnergies has inked a 20-year Solar Power Operating Lease Agreement with South Korea’s Daehwa Pharmaceutical Co., Ltd.
A 1.8 MWp solar photovoltaic (PV) system will be installed at Daehwa’s cutting-edge production site in Hoengseong-gun, Gangwon-do. The agreement was signed at Daehwa’s Seoul office, with key representatives from both sides present.Richard Pullen, Representative Director of TotalEnergies Renewables Projects South Korea, commented: “This agreement stands as a model case of active participation in industrial decarbonization in Korea. Based on our partnership with Daehwa Pharmaceutical, we aim to further expand our renewable energy projects across the country.”
Eun-Seok Kim, CEO of Daehwa Pharmaceutical, stated, “Through the adoption of this solar power system, Daehwa aims not only to reduce annual energy costs but also to take a meaningful step toward realizing environmentally friendly values by lowering carbon emissions. ESG management is no longer a choice but a necessity, and we will continue to fulfill our role as a responsible company for a sustainable future.”
TotalEnergies will fully invest in, install, operate, and maintain the solar system, which will include over 2,800 solar modules. Once live, the system is expected to generate around 2,300 MWh of clean electricity annually — enough to cover about 20% of Daehwa’s current power needs.
This shift to solar will help Daehwa avoid nearly 1,000 tons of CO₂ emissions every year, aligning with its sustainability goals and the global RE100 initiative.
Commercial operations are set to begin in the second half of 2025, following permitting and construction.
