A new joint venture that will focus on developing large-scale renewable energy and data infrastructure projects in South Korea has been announced.
Diode Ventures, a wholly-owned subsidiary of Black & Veatch, has teamed up with Energy Innovation Partners (EIP) to finance, build and operate such projects across the country.
According to Diode, the Republic of Korea, which is working towards a 20% reduction in carbon emissions by 2030 and a net zero economy by 2050, imports nearly 96% of its energy.
The new joint venture, named The Green Korea Inc., which is subject to regulatory approval,s is expected to help advance the country’s sustainability initiatives by offering the full lifecycle of project development for solar, wind, battery storage and data centres, among others.
Brad Hardin, President of Diode Ventures said: “We believe the growing Korean market offers substantive opportunities to add value for our clients and support the evolution of greener, more sustainable energy infrastructure.
“The EIP team is a trusted partner for Diode and we are excited to work with them under the banner of The Green Korea Inc. to perform development, engineering, procurement and construction services that will bring these critical projects to life.”
