Ministry of Climate, Energy and Environment to discuss renewable energy procurement with chipmakers

The Ministry of Climate, Energy and Environment will meet global semiconductor companies Aug. 26 to discuss renewable-energy procurement.

The meeting at the Korea Chamber of Commerce in Seoul will include Samsung Electronics, SK hynix, Google and ASML. It was arranged as global semiconductor companies expand investments in Korea and interest in renewable-energy procurement grows, the ministry said. The ministry will share its policy direction and hear industry suggestions.

Semiconductor and artificial-intelligence data-center industries require large, reliable power supplies, and face demands to implement RE100, using 100 percent renewable energy, and reduce greenhouse-gas emissions.

The ministry will present policy directions aimed at reaching 100 GW of renewable-energy deployment by 2030, including more rooftop, agrivoltaic and floating solar generation, changes to siting and electricity-market rules, and expansion of the national power grid. Market measures include a shift in the renewable portfolio standard toward long-term fixed-price contracts and a brokerage market for direct power-purchase agreements.

"We will expand the foundation for stable and competitive renewable-energy supply through reforms to sites, markets and the power grid, so that Korea can become an attractive investment destination for global advanced industries," Lee Won-joo, head of the ministry's Energy Transition Policy Office, said. "Following this meeting, we will continue to communicate and cooperate with industry worldwide and reflect its views in institutional improvements."