Naver, Gurin Energy Team Up on 216 MW Solar Project to Source Renewable Power for AIDC
TECHWORLD ·
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Naver said on the 16th that it has signed a memorandum of understanding, or MOU, with Gurin Energy to secure renewable power for its data centers.
The partnership is based on 'Jindo Green Solar,' a 216 MW solar project under development in Jindo, Gwangju, South Jeolla Province, and Naver will pursue a partial equity investment and a long-term power purchase agreement, or PPA.
The two companies aim to sign a final agreement by the end of this year, and Naver plans to use the secured power to operate 'Gak Sejong' and 'Gak Chuncheon.'
Naver said on the 16th that it has signed a memorandum of understanding, or MOU, with Asia renewable energy developer Gurin Energy to secure renewable power for its data centers. The partnership is based on a 216 MW solar project.
Under the agreement, Naver will pursue a partial equity investment in 'Jindo Green Solar,' a solar power project under development in Jindo, Gwangju, South Jeolla Province. Naver will also pursue a long-term power purchase agreement, or PPA, for 'Jindo Green Solar' and seek long-term purchases of the renewable energy generated by the project.
'Jindo Green Solar' secured electricity business permits totaling 216 MW earlier this year. Gurin Energy is responsible for the project's development and operations management.
The two companies aim to sign a final agreement by the end of this year based on the partnership. They plan to negotiate the detailed terms of the final contract.
Naver will use the secured power to operate its Naver AI·cloud data centers 'Gak Sejong' and 'Gak Chuncheon' in response to rising electricity demand at data centers driven by the expansion of AI and cloud services, while also expanding renewable energy sourcing channels. Through this, it plans to broaden its data center power procurement portfolio.
The partnership will be carried out through a combination of renewable energy purchases and direct investment in power generation projects. Specifically, it involves parallel long-term PPA arrangements and equity investment in the power generation project.
Naver also made an equity investment in a GS wind power plant and signed a PPA contract in April this year, continuing to expand its renewable energy sourcing methods. These moves are in line with Naver's '2040 carbon negative' goal announced in 2020.
Chae Seon-joo, head of Naver's strategic business division, said electricity demand at data centers is rising with the spread of AI and cloud services, adding that securing renewable energy in a stable manner is an essential task for sustainable infrastructure operations. She said Naver will continue efforts to achieve its 2040 carbon negative goal by strengthening the foundation for data center renewable energy conversion through long-term PPA agreements and strategic investments, while also advancing data center energy efficiency and renewable energy transition.
Asad Razaq, CEO of Gurin Energy, explained the significance of the Jindo Green Solar project, saying the project will support Naver's expanded use of renewable energy while also contributing to Korea's energy transition and carbon neutrality goals.
Source: TECHWORLD · Kim Seung-gi
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407023
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Source: TECHWORLD
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