Hanwha Solutions Insight Division, a business unit of South Korea’s Hanwha Group, has signed a memorandum of understanding (MOU) with SKS Credit, a local private equity fund specializing in ESG (environmental, social and governance), to develop eco-friendly datacenters.
Under the agreement, Hanwha and SKS will share their roles to further their joint investment.
Hanwha will discover and invest in projects such as eco-friendly data centers and logistics centers to be linked to renewable energy generation.
SKS Credit, in turn, will raise a capital worth 250 billion won ($203 million) to finance those investments while focusing on creating an optimized profit structure.
“As achieving RE100 and procuring renewable energy become more important than ever for businesses to survive in the global market, we will actively engage in domestic renewable energy development projects,” said Shin Dong-jin, head of Hanwha Solutions Insight Division.
Hanwha has been making efforts to build eco-friendly data centers at its Yongin and Anseong industrial complexes in Gyeonggi Province since May 2022.