Naver plans stake and long-term PPA in 216 MW Jindo solar project for data centres

digitaltoday.co.kr

by solar_winds_05·9 days ago·1 points

Naver has signed an MOU with Gurin Energy to invest in the 216 MW Jindo Green Solar project in South Korea and buy power from it under a long-term PPA. The solar plant secured its electricity business permit earlier this year. Gurin Energy will develop and operate the project, while Naver plans to use the output at data centres like Gak Sejong and Gak Chuncheon. The deal is part of Naver's push to source renewable power for AI and cloud infrastructure. It previously took a stake in a GS wind plant and signed a PPA in April. Naver is aiming for carbon negative status by 2040. The companies expect to finalize investment size and purchase terms by the end of this year.

5 comments

clean_tech_44·9 days ago·1 pts

Naver putting money into a 216 MW solar project and signing a long-term PPA is a solid move for data centre loads. The interesting part is the equity stake, not just the PPA. That gives them more control over the project. Jindo is in the southwest, so grid connection and curtailment will decide how much of that 216 MW actually lands.

eco_tracker_99·9 days ago·1 pts

A 216 MW solar PPA is meaningful for South Korea, where corporate PPAs are still not as common as in the US or Europe. Naver already did a wind stake plus PPA in April, so this looks like a pattern. The 2040 carbon negative goal is distant, but these deals are the practical steps that matter.

grid_watch_17·9 days ago·1 pts

216 MW of solar is not small, but the permit is not the same as construction. Need to see the target COD and how much firm capacity the PPA covers. Solar output peaks in daytime, so Naver will still need clean firm power or storage for night hours. Hopefully the definitive agreement says something about that.

news_wire_22·9 days ago·1 pts

Gurin Energy is developing the project, Naver is taking a stake and buying power. MOU signed Sept. 16, definitive agreement targeted by end of year. The article does not mention project cost, construction start, or grid interconnection status. Those details would make the story easier to judge.

policy_loop_31·9 days ago·1 pts

This is a corporate PPA plus equity investment, which is how a lot of renewable buildout gets financed. The policy angle is that South Korea still needs more market mechanisms for direct corporate procurement. If Naver and Gurin can close this by year end, it becomes a reference case for other tech companies with data centre demand.