Navigating new markets can be complex, but with the right strategy and persistence, new opportunities emerge. In this insights piece, Ricardo Hernandez, our Renewable Energy Sourcing Associate, shares his firsthand experience leading Climate Impact Partners' early entry into South Korea’s Energy Attribute Certificate (EAC) market. This transaction marks a significant step in expanding high integrity renewable energy procurement options for companies wanting to take climate action.
Breaking New Ground in South Korea’s EAC Market
South Korea’s Energy Attribute Certificate (EAC) market has long been a challenge for international companies. Regulatory complexities, unique procurement structures, and a lack of clarity around transaction mechanisms have made it difficult for global voluntary buyers to access the market and achieve RE100 compliance.
Recognizing this as a significant opportunity, Climate Impact Partners took proactive steps to navigate the South Korean market. This effort culminated in our first K-REGO transaction – marking an important milestone in our role as early adopters, helping expand renewable energy procurement options for our clients.
Overcoming Barriers to Entry
Gaining access to the South Korean EAC market required rethinking our approach to renewable energy transactions. Key challenges included:
- Communication Gaps – Unlike other markets where procurement is centralized, South Korean EAC transactions require close coordination between our clients’ headquarters, their South Korean entities, our team, and suppliers. Managing multiple stakeholders across different time zones required extensive planning and alignment.
- Payment Structures – The financial framework for K-REGO transactions differs significantly from what our clients and we are accustomed to. Adjusting internal and external processes was essential.
- Contract Negotiations – With no standardized contract terms available, we undertook a five-month negotiation process to build a suitable framework from the ground up.
Despite these hurdles, our commitment to solving these challenges led to a successful market entry.
A Strategic Approach: Collaborating with Cadence Design Systems
Rather than rushing into commitments that could jeopardize our clients' renewable energy targets, we took a strategic approach. We collaborated with forward-thinking companies, Cadence Design Systems and a multinational cosmetics company- both partner with us to manage their renewable energy procurement across multiple markets. These early adopters recognized both the challenges and opportunities of shaping a new voluntary market.
From our first meeting with a South Korean supplier in April 2024 to the successful retirement of K-REGOs in March 2025, this process laid the groundwork for future transactions. This transaction represents a significant early milestone in the international voluntary K-REGO market – paving the way for future procurements and greater accessibility for global buyers.
Expanding Our Global Reach
Climate Impact Partners has been a pioneer in the EAC markets since 2013, initiating and supporting the development of many markets, and we have grown to be one of the largest Global EAC providers. Now we have added South Korea as one of the 86 global renewable energy markets we manage for our clients, where we provide 15 different Renewable Energy products.
Our expertise lies in tailoring renewable energy product portfolios to align with our clients’ long-term climate strategies and the external frameworks they adhere to, including RE100, Science Based Targets Initiative (SBTi), Environmental Protection Agency (EPA) Green Power Partnership, EKOenergy, and the transition to direct consumption models.
Key Takeaways: Laying the Foundation for Long-Term Market Access
This experience reinforces the importance of persistence, adaptability, and strong communication with partners. Entering a new market isn’t just about being the first – it’s about building the right foundations for long-term access and scalability.
As South Korea continues to develop its renewable energy and EAC landscape, Climate Impact Partners now stands as one of the few companies with a proven track record of navigating its complexities. This achievement strengthens our ability to help global clients access complex EAC markets, furthering their commitments to renewable energy procurement and sustainability goals.
We are committed to leveraging our expertise to support international voluntary buyers in accessing high-quality, credible renewable energy solutions as new markets evolve.
