POSCO announced on the 31st that it will supply 200,000 tons of steel materials to Array Technologies, the world's second-largest solar power plant manufacturer.
The two companies signed a non-face-to-face memorandum of understanding (MOU) on the same day and agreed to cooperate in the supply, design and use of materials and solar structures and related components such as "PosMAC," a special steel material that is resistant to corrosion.
Array Technologies is a design and manufacturer of solar power structures and components headquartered in New Mexico, and is a leading global solar power business with a 17% global market share as of 2020.
POSCO will work with small and medium-sized South Korean steelmakers and POSCO International to process Posmac and other materials into solar parts and supply them to global solar power generation projects involving Array Technologies.
The estimated supply of 200,000 tons by 2023 is enough to install solar power facilities in an area of 12,000 soccer fields.
Reporter Lee Ji-sun stockmk2020@gmail.com
