Hanwha Solutions to Create Fund to Develop Renewable Energy Data Centers | Be Korea-savvy

Hanwha Solutions to Create Fund to Develop Renewable Energy Data Centers

(image: Korea Bizwire)

(image: Korea Bizwire)

SEOUL, Jan. 31 (Korea Bizwire)Hanwha Solutions Corp., a key energy unit of South Korea’s Hanwha Group, plans to create a fund to expand its domestic renewable energy-related data center development venture.

The company announced on Monday that it had signed a memorandum of understanding (MOU) with SKS Credit Co., a local private equity fund specializing in ESG (environmental, social and governance), to jointly develop renewable energy-connected data centers and logistics centers.

Under terms of the MOU, Hanwha Solutions will explore and invest in renewable energy power-related eco-friendly data centers and logistics centers.

SKS Credit will raise investment capital by creating a fund worth 250 billion won (US$203 million) while focusing on creating an optimized profit structure.

Despite dampened investment sentiment, investor interest in renewable energy infrastructure is still high since it can generate stable earnings. Accordingly, SKS Credit expects to be able to successfully raise funds.

Hanwha Solutions has been engaged in the development of eco-friendly data centers at its Yongin and Anseong industrial complexes in Gyeonggi Province since May lasst year.

Kevin Lee (kevinlee@koreabizwire.com)

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