Singaporean renewable power producer Peak Energy, owned by US investment group Stonepeak, has entered a memorandum of understanding (MOU) with Shinsung E&G and YSP Co Ltd for the development of a 50-megawatt (MW) portfolio of rooftop solar projects in South Korea.
Announced on Friday, the partnership aims to capitalize on South Korea's new measures promoting solar deployment on small land plots and rooftops, aligning with national net zero targets.
According to a statement, Peak Energy will oversee project coordination, business management, and financing, while also securing corporate power off-takers for the photovoltaic (PV) plant's output. Shinsung E&G and YSP Co Ltd will focus on identifying suitable rooftops and managing construction activities.
Peak Energy boasts a track record of over 400 MW of solar projects across 13 Asian countries. Last year, the company partnered with South Korea's Topinfra to develop more than 500 MW of solar and battery storage capacity in the region.
The initiative underscores Peak Energy's commitment to expanding renewable energy infrastructure in South Korea, leveraging local partnerships to advance solar power adoption and contribute to the country's sustainable energy goals.
