GS Energy and KEPCO Join Forces for New Overseas Solar, Wind, and Green Hydrogen Projects

"Synergy of Project Development Skills and Power Business Operation Experience"

From the right, Seongwon Kim, Head of GS Energy Division, Geunbae Seo, Head of Korea Electric Power Corporation Division. (Photo by GS Energy)

[Asia Economy Reporter Moon Chaeseok] GS Energy is partnering with Korea Electric Power Corporation (KEPCO) to pioneer new energy industries such as solar and wind power generation, green hydrogen, and blue ammonia.

GS Energy, the energy-focused holding company of GS Group, announced on the 10th that it signed a Memorandum of Understanding (MOU) with KEPCO at its headquarters in Gangnam-gu, Seoul, to jointly develop overseas renewable energy, green hydrogen, and blue ammonia projects. The event was attended by Kim Sung-won, Head of Energy Resources Business Division at GS Energy, Seo Geun-bae, Head of Overseas Business Division at KEPCO, and other officials from both companies.

GS Energy and KEPCO will actively promote future energy projects that contribute to carbon neutrality, including renewable energy such as solar and wind power, as well as green hydrogen and blue ammonia, by entering the global energy market together. Kim Sung-won said, "The experience accumulated separately by the private and public sectors in the energy industry is a valuable asset for Korea. If the public and private sectors cooperate and work together on the global stage, Korea's energy industry can leap to a world-class level like the semiconductor industry."

GS Group currently holds a total power generation capacity of 5.8GW, making it the leading private power generation company in Korea. In particular, it is promoting various domestic and international renewable energy projects in line with ESG (Environmental, Social, and Governance) principles. Based on its currently operating 300MW capacity projects including solar, wind, and fuel cells, it plans to develop an additional 900MW to grow to a total scale of 1.2GW.

Additionally, GS Energy is collaborating with VinaCapital, a leading asset management company in Vietnam, to advance a 3GW-scale "Gas to Power Project" in Long An Province, southern Vietnam. This project encompasses everything from the import of liquefied natural gas (LNG) to the operation of gas combined cycle power plants.

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