/LONDON, February 23, 2026, 10:30 GMT, RENEWABLE MARKET WATCH™/ Hankook Tire & Technology (Hankook Tire), a prominent global player in the tire manufacturing industry and part of the Hankook & Company Group led by Chairman Hyunbum Cho, has recently formalised a long-term Pay as Nominated Power Purchase Agreement (PPA) with GoldenPeaks Capital (GPC), recognised as one of Europe’s fastest-growing independent producers of renewable energy.
This strategic agreement marks a pivotal advancement in efforts to enhance renewable energy sourcing and promote decarbonization within Hungary’s industrial landscape. Notably, this arrangement stands as GoldenPeaks Capital’s largest PPA contract to date in Hungary. Spanning a period of 10 years, the agreement stipulates that GoldenPeaks Capital will deliver a total of 430 gigawatt-hours (GWh) of electricity. This commitment is substantial, providing enough clean energy to power approximately 28,700 residents and facilitating a remarkable reduction of an estimated 10,107 metric tons of carbon dioxide (CO₂) emissions each year. The PPA involves 30 megawatt-peak (MWp) of photovoltaic capacity in Hungary, aligning seamlessly with Hankook Tire’s comprehensive sustainability roadmap to achieve its global CO₂ reduction objectives and further solidifying the company’s status as a leader in responsible manufacturing practices.
Globally acknowledged for its range of high-performance tires and innovative material technologies, Hankook Tire is steadfast in its commitment to expanding its environmental initiatives. This includes implementing long-term renewable procurement strategies across its production facilities. Furthermore, World Kinect played a crucial role in providing advisory support to Hankook Tire throughout the entire PPA negotiation and finalisation process, ensuring a smooth and successful agreement that paves the way for future sustainability efforts.
Daniel Tain, Founder and President of GoldenPeaks Capital, said: “This PPA reflects another milestone within our full commitment to shape Hungary’s clean energy future. 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.”
GoldenPeaks Capital is dedicated to increasing its footprint in the renewable energy sector throughout Central and Eastern Europe. The company actively collaborates with prominent manufacturers, including Hankook Tire, to help them achieve their sustainability goals by providing high-quality, scalable, and dependable Power Purchase Agreement (PPA) structures.
For more information and answers to your questions about the Hungarian and European corporate renewable PPA market and related content, you may read here: Europe Corporate Renewable PPA Market Report 2025 ÷ 2034.
For a better understanding of the benefits of using our reports, you may read here: Benefit List – Reports of Renewable Market Watch – 2025
About Renewable Market Watch™
Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting-edge predictive analytics data platform. We partner with our customers to provide research, data and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets in Asian countries, Western Europe, South Europe, Balkan countries, Central and Eastern Europe, CIS states (the former Soviet Union), LATAM countries, and MENA countries. For more information about Renewable Market Watch™, please visit:
