GS Engineering & Construction has signed an MOU with global infrastructure investor I Squared Capital to develop a 3 trillion won renewable energy project in South Korea. The joint venture aims to build 1.5 GW of energy assets by 2035, including 820 MW of solar power and battery energy storage systems. GS E&C will handle site acquisition and permits, while I Squared Capital manages investment and financial planning. The project will be funded through equity and project financing, though specific ownership stakes are not yet disclosed. I Squared Capital manages about $60 billion in assets and has renewable energy experience in Asia. This deal reflects growing momentum in South Korea's energy transition and carbon neutrality efforts, with a focus on securing development rights and stable power demand.
