GS Engineering & Construction has announced a strategic partnership with US-based infrastructure investment firm I Squared Capital. This significant collaboration aims to accelerate the development of renewable energy and advanced battery energy storage systems throughout South Korea.
The partnership, formalized by a memorandum of understanding, will establish a dedicated joint venture. This entity will focus intently on pioneering large-scale solar power and innovative energy storage projects, contributing to Korea’s sustainable future.
Through this joint venture, the two companies have set an ambitious target: to develop and secure a cumulative 1.5 gigawatts (GW) of critical energy transition assets by 2035. This comprehensive goal specifically includes approximately 820 megawatts (MW) of new solar power generation capacity.
The total estimated project cost is approximately 3 trillion won ($1.95 billion). To fund these extensive initiatives, the partners are structuring a robust financing model that combines significant direct investment with a variety of external funding sources, including specialized project financing arrangements.
