I Squared Capital, an independent global infrastructure investment manager, and GS E&C, a comprehensive construction company in South Korea, have signed a memorandum of understanding (MoU) to establish a joint venture focused on the development of renewable energy projects in South Korea.
The proposed joint venture will focus on solar power and battery energy storage system projects in South Korea, with the goal of securing and developing a total of 1.5 gigawatts of renewable energy assets by 2035, marking one of the first large-scale, renewable-energy developer initiatives undertaken by a major South Korean conglomerate. Of the 1.5 gigawatts, solar-power assets are expected to account for approximately 820 megawatts. The partnership comes at a time when South Korea is accelerating efforts to expand renewable-energy generation, with the government targeting renewables to account for at least 20 percent of electricity generation by 2030.
As part of the joint venture
