Skip to the content
W.Media
  • Home
  • Company
  • Conventions
  • Digital Events
  • Contact Us
  • Home
  • Company
  • Conventions
  • Digital Events
  • Awards
  • Contact Us
  • Tech News
  • Forum
  • Tech News
  • Digital Week
search
×
W.Media

SK E&S to invest $1.7bn in South Korean data center and floating solar farm

Published 2 October 2020

0 comments

stuart-crowley
W.media | editor
Share on Facebook Share
Share on TwitterTweet
Share on LinkedIn Share

SK E&S, a subsidiary of South Korean conglomerate SK Group, revealed it will invest US$1.7 billion (2 trillion won) to set up a data center and floating solar farm at an industrial complex in Saemangeum.

SK E&S beat three other corporations in its proposal to the Saemangeum Development Administration. If officially accepted, the plan featured a startup cluster, data centers, network cables and other business infrastructure to attract tech companies from around the world.

“We will be reborn as the nation’s largest eco-friendly energy company by investing heavily in renewable energy and energy solutions,” said E&S President Yu Jeong-joon.

In its proposal, the company proposed to make Saemangeum a self-sufficient city like Almere in the Netherlands where more than 5,000 jobs are created each year.

As part of the deal, SK E&S will be awarded a license to operate a 200 MW floating solar farm, making the global clean energy solution provider South Korea’s largest floating solar farm operator.

“We will take the lead in supplying clean energy and contribute to vitalizing the local economy,” added Mr. Jeong-joon.

The solar farm will have a capacity of 263 GWh per year and is expected to provide 2.4 gigawatts of electricity, producing US$3.2 million (3.8 billion won) in net profit for every 100 MW.

At a cost of US$425 million (500 billion won), the solar farm project is forecast to kick off in the second or third quarter of 2021, with operation beginning in 2023. 

The proposed data center is part of a longer term plan in cooperation with sister company SK Broadband.

Got a story, opinion or more information on this article? Contact us at editor@w.media.
And get the latest updates by signing up to the W.Media Newsletter!

Explore the state of South Korea’s cloud and data center market with W.Media

As one of the most innovative countries in the world, South Korea has exciting cloud and data center markets. But will the country continue to be a shining star in the next five years?

Register now to find out by joining W.Media’s action-packed South Korea Cloud & Datacenter Digital Summit on Wednesday 11 November!

Get involved in the conversation and connect with your peers on LinkedIn and Facebook using #WMediaEvent!

> View all W.Media digital events

Receive the latest news.

We'll keep you in the loop.

Great! now press

Featured Articles


Why the Transformation of State-owned Chinese Companies Will Take Time


How China’s Data Center Industry is Likely to Shape Up in 2021


Back To Tech News

More Articles

Thailand’s WHA Infonite and MFEC ink data center deal

Thailand-based logistics, industrial estates, and utilities... Read More

Keppel Data Centres enters into partnerships to explore sustainable Floating Data Centre Park and LNG solutions in Singapore

Keppel Data Centres has entered into agreements with Toll... Read More

Singapore’s Mapletree Industrial Trust buys 14 data centers in USA for $215m

Mapletree Industrial Trust (MIT), has completed their... Read More

Palo Alto Networks unveils new Singapore cloud location

Palo Alto Networks, a global cybersecurity leader, has... Read More

Logo

W.Media is global B2B Tech
Marketing Agency that specializes in
PR, Digital Media Marketing and Events Coordination

  • facebook
  • linkedin
Quick Links
  • Company
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
Offerings
  • Tech News
  • Digital Events
  • Conventions
  • Digital Week

Copyright © 2020 W.Media | All Rights Reserved

Receive the latest news.

We'll keep you in the loop.

Great! now press