Mirae Asset Securities signs long-term REC purchase contract

The S.Korean financial firm is considering a variety of implementation plans such as power purchase agreements

Mirae Asset Securities signs long-term REC purchase contract
Sang Hoon Sung 1
2023-02-08 11:14:56 uphoon@hankyung.com
Energy

Mirae Asset Securities signed a long-term purchase agreement for solar renewable energy certificates (RECs) with Sunset Energy on Tuesday. Sunset Energy is a subsidiary of JY S&G.

Earlier in Sept. 2021, Mirae Asset Securities became the first South Korean financial services provider to join the global RE100 and established a plan to convert 100% of its total electricity usage to renewable energy by 2025. Starting with the signing of the REC contract, a variety of implementation plans such as power purchase agreements are under review.

"As an investment company, we will join our customers in reducing greenhouse gas emissions and fulfill our social responsibilities," said an official of Mirae Asset Securities.

In 2021, Mirae Asset established Terra Power, a joint venture with Brite Energy Partners (BEP), to jointly promote the acquisition, development, and operation of small- and medium-sized solar power generation projects in Korea.

In the future, it also plans to provide investment and advisory services and financial products for a successful transition to carbon neutrality.

Write to Sang Hoon Sung at uphoon@hankyung.com
#Mirae Asset Securities #solar renewable energy certificates #Sunset Energy #JY S&G #REC contract #Brite Energy Partners #Terra Power #korea mireaasset rec

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