Hanwha Solutions Establishes 250 Billion KRW Fund for Eco-Friendly Energy Development

[Asia Economy Reporter Oh Hyung-gil] Hanwha Solutions is expanding its domestic renewable energy development projects.

Hanwha Solutions announced on the 30th that it signed a memorandum of understanding (MOU) with ESG (Environmental, Social, and Governance) specialized private equity firm SKS Credit on the 27th to jointly develop data centers, logistics centers, and other projects linked to renewable energy.

Hanwha Solutions signed a business agreement (MOU) on the 27th with ESG (Environmental, Social, and Governance) specialized asset management firm (PEF) SKS Credit for joint development of data centers, logistics centers, and more linked to renewable energy. Cha In-hyun, CEO of SKS Credit (left), and Shin Dong-jin, Head of Insight Division at Hanwha Solutions

The two companies will leverage their expertise to divide roles and promote joint investments. As a leading renewable energy company in Korea, Hanwha Solutions plans to discover and invest in eco-friendly data center and logistics center development projects connected to renewable energy generation.

Based on its experience managing a $1 billion fund jointly established by SK Group and the National Pension Service, SKS Credit plans to raise investment capital by creating a new fund worth 250 billion KRW and focus on managing an optimized profit structure.

Hanwha Solutions' Insight division, which undertakes various complex development projects such as domestic renewable energy development and operation, has been promoting eco-friendly data center development in the Yongin and Anseong industrial complexes since May last year. Hanwha Solutions intends to actively respond to the rapidly growing domestic demand for eco-friendly data centers by leveraging the fund secured through this agreement along with its own licensing capabilities and synergies.

A Hanwha Solutions official stated, "As achieving RE100 and procuring renewable energy have become more important than ever for major companies, we will actively engage in domestic renewable energy development projects."

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