India, Feb. 23 -- Hankook Tire has entered into a substantial long-term Pay as Nominated Power Purchase Agreement (PPA)with GoldenPeaks Capital, a rapidly expanding independent renewable energy producer in Europe. This strategic partnership marks a major advancement in bolstering renewable energy procurement and supporting the decarbonisation of Hungary's industrial landscape while also representing GoldenPeaks Capital's largest PPA undertaking in the country to date.

The decade-long accord will see GoldenPeaks Capital deliver a total of 430 GWh of electricity, derived from a 30 MWp photovoltaic installation in Hungary. This volume of clean power is sufficient to meet the annual electricity needs of approximately 28,700 residents and is...