PRNewswire
Seoul [South Korea], July 1: TotalEnergies has signed a Solar Power Operating Lease Agreement with South Korean pharmaceutical company Daehwa Pharmaceutical Co., Ltd. to install a 1.8 megawatt-peak (MWp) solar photovoltaic (PV) system. The project will be implemented at Daehwa Pharmaceutical's state-of-the-art production site in Hoengseong-gun, Gangwon-do. The signing ceremony was held at Daehwa Pharmaceutical's Seoul office in the Seocho District, with key representatives from both companies in attendance.
Under this 20-year agreement, TotalEnergies will fully invest in, install, operate, and maintain the solar PV system on-site at the premises of Daehwa Pharmaceutical's facilities. The system will comprise over 2,800 solar PV modules and is expected to generate approximately 2,300 megawatt-hours (MWh) of clean electricity annually, equivalent to around 20% of Daehwa Pharmaceutical's current total electricity consumption, avoiding about 1,000 tons of CO2 emissions annually.
Through this collaboration, the two companies aim to replace a portion of the factory's electricity usage with clean energy, contributing to carbon emissions reduction and promoting a sustainable energy transition in compliance with the RE100 initiative.
The project is expected to begin commercial operations in the second half of 2025, following the completion of permitting and construction processes.
Richard Pullen, Representative Director of TotalEnergies Renewables Projects South Korea, commented: "This agreement stands as a model case of active participation in industrial decarbonization in Korea. Based on our partnership with Daehwa Pharmaceutical, we aim to further expand our renewable energy projects across the country."
Eun-Seok Kim, CEO of Daehwa Pharmaceutical, stated, "Through the adoption of this solar power system, Daehwa aims not only to reduce annual energy costs but also to take a meaningful step toward realizing environmentally friendly values by lowering carbon emissions. ESG management is no longer a choice but a necessity, and we will continue to fulfill our role as a responsible company for a sustainable future."
About TotalEnergies Renewables Distributed Generation in Asia
TotalEnergies Renewables Distributed Generation is a major international provider of fully integrated distributed solar energy solutions, including solar-powered rooftops, carport and ground-mounted solar power plants, with 1.5 GW of projects in construction and operation worldwide. In Asia, TotalEnergies Renewables Distributed Generation is one of the largest and fastest players in renewable energy distributed generation in the region for commercial and industrial customers, with over 200 MW of projects in operation across 10 countries. https://solar.totalenergies.asia
TotalEnergies and electricity
TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. As of the end of March 2025, TotalEnergies has 28 GW of installed gross renewable electricity generation capacity and aims to reach 35 GW by the end of 2025, and more than 100 TWh of net electricity production by 2030. https://renewables.totalenergies.com/en
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
About Daehwa Pharmaceutical Co., Ltd.,
Daehwa Pharmaceutical Co., Ltd., established in 1984 and listed on KOSDAQ in 2003, is a mid-sized Korean pharmaceutical company. It was the first to be certified as an "Innovative Pharmaceutical Company" by the Ministry of Health and Welfare in 2012 and has maintained this status through five consecutive renewals, valid until 2027.
The company focuses on formulation technologies such as TDDS, ODF, and improved drugs, as well as natural substance-based dementia treatments. It operates three GMP-certified plants, including a cGMP-level facility for oral anticancer drugs. Key products include oral anticancer medication (Liporaxel®), topical treatments, analgesics, and HA filler 'Amalian' from its German subsidiary. Daehwa also provides OEM manufacturing of medical patches and is committed to ESG practices with multiple ISO certifications.
TotalEnergies Contact
Media Relation: contact.solar.asia@totalenergies.com
Daehwa Pharmaceutical Co., Ltd., Contact
Media Relation: Jihoon Ko (jihoon@dhpharm.co.kr)
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Cautionary Note TotalEnergies
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