GS Engineering & Construction (GS E&C) announced on the 27th that it has entered the Indian renewable energy market as the first Korean company to participate as a solar power project developer.

GS E&C has completed construction of the ‘Patur Solar Park’ located in the state of Maharashtra, India, and has commenced full-scale commercial operation.

The ‘Patur Solar Park’ has a total capacity of 12.75MWp and is equivalent in size to 1,213 football fields. It can generate 18–20 million kWh of electricity annually, which is enough to supply power to approximately 6,000 households for one year. Compared with fossil fuel-based power generation, this annual electricity output is expected to reduce carbon dioxide emissions by about 8,000 tons.

In this project, GS E&C is participating as a project developer, carrying out construction, operating the solar power facilities, and generating profit by selling electricity directly. The company plans to supply 13.9GWh of electricity per year, produced from about 69% of the total solar facilities, to ILJIN Global India for the next 25 years, while the remaining electricity generated will be sold to a local Indian real estate developer.

This project is being implemented under an “Open Access Captive” business model, in which factories procure the electricity they need directly by using the transmission and distribution network. In India, electricity prices are rising domestically, driving increasing demand for renewable energy sources such as solar and wind power, and the industry expects the market for this business model to expand.

GS E&C established a renewable energy development subsidiary in India in 2023 and has since been pursuing this project.

A GS E&C official stated, “Through this project, the company has solidified its position as a developer in the Indian renewable energy market and plans to expand its business scope to include not only solar but also wind power,” adding, “Initially, GS E&C will strengthen its competitiveness through cooperation with Korean companies that have entered India, and will gradually diversify its customer base to lead the global carbon-neutral era.”

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