GS Engineering & Construction is launching a domestic renewable energy development project worth KRW 3 trillion in partnership with a global investment firm. GS Engineering & Construction announced on the 22nd that it had signed a memorandum of understanding (MOU) with I Squared Capital, a global infrastructure investment firm, to establish a joint venture (JV) for promoting renewable energy projects in Korea. The signing ceremony was attended by Huh Yoon-hong, CEO of GS Engineering & Construction, and Sun Zhenhua, Partner of I Squared Capital Fund, among others. Through the joint venture, the two companies plan to secure energy transition assets with a capacity of 1.5 GW (gigawatts) in Korea by 2035, focusing on solar power and battery energy storage system projects. GS Engineering & Construction will be responsible for development tasks such as securing sites, obtaining permits and licenses, and structuring the projects, while I Squared Capital will design the investment structure and formulate the financing plan.
Im Yuna
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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