, South Korea

Black & Veatch unit, EIP partner to develop RE in South Korea

This is in aid of South Korea’s target of a 20% reduction in emissions by 2030.

Diode Ventures, a wholly-owned subsidiary of Black & Veatch has signed a joint venture (JV) agreement with Energy Innovation Partners (EIP) to develop large-scale renewable energy projects in South Korea. 

The joint venture will cover the full life cycle of project development for solar, wind, battery energy storage, and data centres amongst others. 

Diode Ventures and EIP partnered in attaining South Korea’s 2030-target of reducing its carbon emissions by 20%. The country also plans to become a net-zero economy by 2050. 

This, however, proves to be challenging considering 96% of energy in the country is imported. “To get there, the country will need to significantly expand its renewable energy generation portfolio,” Diode Ventures and EIP said in a statement. 

At present, the South Korean government, through its Green Growth National Strategy and Korean New Deal 2.0, invests some US$185b for its green economic growth planning.

Diode Ventures is a developer of energy and data infrastructure; whilst EIP is the leading energy investment advisory firm, focused on green energy infrastructure and power generation in South Korea. 

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Why Singapore could be the ‘tipping point’ for ASEAN renewable and grid development
Heavily reliant on gas, the country is still on track for its 2035 net-zero target, but could be more ambitious to hit its 2050 goal by 2045.
Power Utility
Will the government pay for coal power exit in Vietnam?
The country’s coal power phase-out strategy sees renewables accounting for 67.7%–71.5% of the energy mix by 2050.