GoldenPeaks Capital has signed a 10-year pay-as-nominated power purchase agreement (PPA) with Hankook Tire & Technology to supply solar electricity in Hungary, the company said.
The agreement, described by GoldenPeaks as its largest PPA in Hungary to date, covers 30MWp of photovoltaic capacity and is expected to deliver 430GWh of renewable power over the contract term.
GoldenPeaks said the project will support decarbonisation of Hungary’s industrial sector. Electricity supplied under the deal is projected to avoid around 10,107 metric tons of carbon dioxide annually, equivalent to the power consumption of roughly 28,700 citizens.
The PPA is intended to support Hankook’s global emissions reduction goals and broader sustainability roadmap for its manufacturing facilities.
World Kinect Energy acted as advisor to Hankook throughout the PPA process, the company added.
“This PPA reflects another milestone within our full commitment to shape Hungary’s clean energy future,” said Daniel Tain, founder and president of GoldenPeaks Capital.
“It also highlights our capability to deliver innovative and tailored renewable energy solutions, enabling industrial off-takers to enhance energy budget certainty while accelerating their transition to green electricity,” he added.
GoldenPeaks said it plans to continue expanding its renewable energy footprint across Central and Eastern Europe while supporting manufacturers in meeting sustainability targets through scalable PPA structures.
