Gurin Energy, NAVER Sign MoU for 216 MW Jindo Green Solar Project in South Korea

Asian renewable energy developer Gurīn Energy has signed a Memorandum of Understanding (MoU) with NAVER, a South Korean internet and technology platform company, to advance the Jindo Green Solar project in South Korea.

Under the agreement, NAVER will acquire a stake in the Jindo Green Solar project and enter into a long-term power purchase agreement (PPA) to purchase renewable electricity generated by the solar farm. The project is expected to provide a stable supply of clean electricity for NAVER’s AI and cloud infrastructure, including its GAK Sejong and GAK Chuncheon data centres.

The Jindo Green Solar project is being developed by Gurīn Energy on Jindo Island, located within the Jeonnam-Gwangju Integrated Special City. Gurīn Energy will continue to lead the project’s development and day-to-day management.

Earlier this year, the project completed its Electricity Business Licence (EBL) approval process, securing 216 MW of licensed capacity and marking a key development milestone.

The partnership brings together NAVER’s demand for renewable electricity to support its growing digital infrastructure and Gurīn Energy’s renewable energy development capabilities in South Korea.

South Korea has set a target of achieving carbon neutrality by 2050 while expanding renewable energy deployment. Renewable power is expected to play an increasing role in meeting electricity demand from strategic sectors including artificial intelligence, cloud computing and digital infrastructure.

Sun-Joo Chae, Head of Strategic Business at NAVER, said the company’s growing AI and cloud services are increasing data centre power demand, making a stable supply of renewable energy important for the sustainable operation of its digital infrastructure. NAVER plans to continue using long-term PPAs and strategic investments to support the renewable energy transition of its data centres and its goal of achieving carbon negativity by 2040.

Assaad Razzouk, CEO of Gurīn Energy, said the company would support NAVER’s renewable energy ambitions through the Jindo Green Solar project while contributing to South Korea’s energy transition and decarbonisation objectives.

Gurīn Energy currently has approximately 600 MW of solar and wind projects in South Korea and plans to further expand its renewable energy portfolio in the country.