SK Ecoplant and China CSCEC Jointly Develop Renewable Energy

Partnership Established for Global Renewable Energy Business Development
Priority Business Development in Egypt and China

[Asia Economy Reporter Kim Min-young] Environmental and energy company SK Ecoplant has signed a strategic partnership with Chinese construction company CSCEC (China State Construction Engineering Corporation) to jointly develop overseas renewable energy projects.

Park Kyung-il, President of SK Ecoplant (left), and Wang Shaofeng, President of CSCEC International Operations, are holding the agreement document and posing for a commemorative photo.

SK Ecoplant announced on the 5th that it signed a memorandum of understanding (MOU) for 'Global Renewable Energy Strategic Cooperation' with CSCEC at its headquarters in Susong-dong, Jongno-gu, Seoul on the 4th. Attending the signing ceremony were Park Kyung-il, President of SK Ecoplant; Lee Wang-jae, Head of SK Ecoplant Eco Energy BU; and Wang Shaofeng, President of CSCEC International Operations, along with other representatives from both companies.

Both companies plan to focus on developing renewable energy projects centered on solar power, wind power, and green hydrogen. SK Ecoplant will provide renewable energy and green hydrogen technology, business development, and project financing (PF) capabilities, while CSCEC, with its global network capabilities, will offer a strong overseas base network spanning 77 countries worldwide. The first target countries for joint development are Egypt and China, which are evaluated to have high potential in the renewable energy sector.

Park Kyung-il, President of SK Ecoplant, said, "Through strategic cooperation with CSCEC, the world's number one construction company, we will accelerate our lead in the global renewable energy market." He added, "We will continue to expand strategic partnerships with global top-tier companies to leap forward as a global environmental and energy company leading the circular economy beyond Korea."

Founded in China in 1952, CSCEC is considered the world's number one construction company with approximately 370,000 employees and operations in 77 countries. As of 2021, it recorded sales of 380 trillion KRW and orders worth 720 trillion KRW, ranking 9th among the Global 500 companies selected by Fortune in the United States this year. Recently, in line with the global ESG trend, CSCEC is actively expanding its domestic and overseas businesses in low-carbon and renewable energy development, moving away from its traditional EPC (engineering, procurement, and construction) business.

This content was produced with the assistance of AI translation services.