Peak Energy Partners with Shinsung E&G and YSP to Develop 50 MW Solar Portfolio in South Korea

Peak Energy has signed a Memorandum of Understanding (MOU) with Shinsung E&G (“Shinsung”) and YSP Co., Ltd. to jointly develop a 50 MW solar portfolio in South Korea. This agreement aims to create a win-win structure by providing increased revenue for existing building owners and supplying green power to RE 100 companies.

Recently, the South Korean government has strengthened initiatives to boost renewable energy projects, introducing regulatory changes to facilitate solar deployment on small plots of land and available rooftops. These efforts aim to reduce power costs, enhance energy security, and meet ambitious net-zero targets.

Led by a team that has developed the largest solar rooftop portfolio in Asia, with over 400 MW of projects completed across 13 countries, Peak Energy will handle project coordination, business management, financing, and sourcing corporate customers for the power. Meanwhile, Shinsung and YSP will focus on sourcing rooftops and leading construction activities.

Gavin Adda, CEO of Peak Energy said, “Peak Energy is committed to Korea, we currently own and operate one of the largest projects in the country. Peak and its partners are committed to helping the South Korean Government achieve its goals and this agreement is specifically focused on catalyzing the rooftop solar industry. We are keen to help by bringing global best practices. That being said, we rely on long-term, strategic partnerships to help us grow and we are very pleased to launch with two of the top solar industry players in Korea.”

Su-ok Choi, Vice President of Shinsung’s Renewable Energy Business Division, said, “Through this agreement, we expect to further revitalize the domestic solar energy market and create positive synergy among the three companies. We will continue to do our best to achieve carbon neutrality in the future.”