Greek Mytilineos, Korea's SK E&S sign MoU on clean energy, LNG
SUMMARY
The two companies will work in the gas value chain, including LNG trading and gas-to-power projects, the renewable energy sector and other areas of respective expertise.
By Shardul SharmaGreek energy company Mytilineos Energy & Metals has signed a memorandum of understanding (MoU) with South Korea's SK E&S to explore means of cooperation in the energy sector, including renewable energy, clean hydrogen, and LNG, the company said on October 16.
The two companies will work together to explore business opportunities in the gas value chain, including LNG trading and gas-to-power projects, the renewable energy sector, and other areas of respective expertise.
Mytilineos has already entered the Asian market with the construction of a 1.55 MW solar PV project in Yangpyeong-gun, South Korea. The Yangpyung-gun project annually generates approximately 2,000 units of renewable energy certificates, which are sold to SK Corporation under a 20-year offtake agreement.
In addition, Mytilineos is involved in the construction and commissioning of several PV projects with a combined capacity of 26 MW in different provinces of South Korea, including Jeollabuk-do, Gyeongsangnam-do, and Chungcheongnam-do. These projects hold long-term power purchase agreements (PPAs) with one of the subsidiaries of South Korean conglomerate GS Corp.
Mytilineos is also developing several large-scale PV projects in South Korea, including a 16 MW project in Gonam-Myeon, Taean County; a 100 MW project in Hongseong-gun, Chungcheongnam-do; and a 200 MW project in Jangheung-gun, Jeollanam-do. Moreover, the company is developing onshore and offshore wind projects across various regions, with a combined capacity exceeding 350 MW.
