Cosmax has officially entered into a direct solar Power Purchase Agreement (PPA) with the Q Cells division of Hanwha Solutions. This strategic move serves as a cornerstone for the company’s broader mission to achieve comprehensive carbon neutrality by 2050. By bypassing the wholesale electricity market, this direct contracting method under the solar PPA allows for a stable, long-term supply of clean energy, directly supporting the organization’s commitment to RE100 initiatives.
Following approval from its ESG Committee, the company is set to receive approximately 10.4 GWh of renewable energy annually starting in July 2026 under the solar PPA. This energy will be utilized across four major production sites located in Hwaseong and Pyeongtaek, enabling the corporation to generate nearly 40 percent of its domestic manufacturing electricity requirements through sustainable sources.
Beyond the solar PPA agreement, the company is actively augmenting its internal sustainability infrastructure. Plans are underway to finalize a 499.2 kW solar power facility on the rooftop of its Pyeongtaek production site by the fourth quarter of this year. This addition is expected to contribute an extra 638 MWh of energy annually. Currently, the company manages rooftop solar arrays at 12 global sites, with intentions to broaden this network to further minimize its carbon footprint.
To support its carbon neutrality goals, the firm is currently implementing a robust Life Cycle Assessment system. This framework tracks energy consumption and emissions from raw material procurement through to final product disposal. Having successfully established a product carbon footprint calculation process last year, the company intends to complete its full lifecycle framework within the current calendar year. This move aligns with international regulations and elevates the company’s profile as a leader in global supply chain transparency.
This initiative follows a series of accolades for the company, including a top ‘Platinum’ rating from EcoVadis and an ‘A’ grade in water management from the Korea Committee of the Carbon Disclosure Project. By combining these environmental efforts with strict adherence to global ESG standards, the organization continues to solidify its position as a trusted partner within the international cosmetic market.
