Gurīn Energy Pte Ltd, a Singapore-headquartered renewable energy developer, and NAVER Corporation, a global technology conglomerate, have signed a Memorandum of Understanding (MoU) under which NAVER will acquire a stake in Gurīn Energy’s Jindo Green Solar project in South Korea. The companies have also entered into a long-term power purchase agreement (PPA) for the renewable electricity generated by the project.
According to a press release, Jindo Green Solar is being developed by Gurīn Energy on Jindo Island, part of the Jeonnam-Gwangju Integrated Special City. Gurīn Energy will remain responsible for project development and day-to-day management. The 216 MW solar project is expected to supply renewable electricity for NAVER’s AI and cloud infrastructure, including its GAK Sejong and GAK Chuncheon data centers. The project completed the Electricity Business Licence (EBL) approval process earlier this year.
““Our partnership reflects the growing convergence of the energy transition and digital transformation in Asia as energy security becomes a critical priority,” said Assaad Razzouk, CEO, Gurīn Energy. “Sunlight and wind are free. And once a plant is built, no one can embargo, blockade, or price-gouge the fuel behind it. That’s what energy sovereignty looks like: independence from fuel imports.”
Sun-Joo Chae, Head of Strategic Business, NAVER, said, “As the expansion of AI and cloud services drives increasing power demand from data centers, securing a stable supply of renewable energy has become essential to the sustainable operation of digital infrastructure. Through long-term PPAs and strategic investments, NAVER will continue to strengthen the foundation for the renewable energy transition of our data centers and pursue its efforts toward achieving our 2040 Carbon Negative goal.”
Gurīn Energy has approximately 600 MW of solar and wind projects in South Korea and is developing additional renewable energy projects in the country. The agreement links renewable power generation with electricity demand from South Korea’s AI, cloud and digital infrastructure sectors. South Korea has a target of achieving carbon neutrality by 2050 and increasing installed renewable energy capacity to 100 GW by 2030.